Notice of Cancellation of Petroleum Exploration Permit EPP46

COMMONWEALTH OF AUSTRALIA

Section 708

Section 275

Offshore Petroleum and Greenhouse Gas Storage Act 2006

NOTICE OF CANCELLATION OF

PETROLEUM EXPLORATION PERMIT EPP46

I, GRAEME ALBERT WATERS, the National Offshore Petroleum Titles Administrator, on behalf of the Commonwealth-South Australia Offshore Petroleum Joint Authority hereby cancel the whole of Petroleum Exploration Permit EPP46 as described by the blocks hereunder of which

Karoon Gas Browse Basin Pty Ltd

(ACN 118 562 860)

is the registered titleholder, on the ground of:

• non-compliance with Condition 1 of Petroleum Exploration Permit EPP46, specifically the failure to meet the following minimum work requirements
  • Acquire or licence 5,000 km new 2D seismic survey.
  • Acquire or licence 5,000 km new 2D gravity, magnetic and bathymetric survey.
  • PSDM processing of 5,000 km of new 2D seismic data.
  • Reprocessing 550 km of existing 2D seismic data.
  • Acquire or licence 2,500 km2 of new 3D broadband seismic survey.
  • Acquire or licence 2,500 km2 of new 3D gravity, magnetic and bathymetric survey.
  • PSDM processing of 2,500 km2 of new 3D seismic data.
  • Geotechnical studies including interpretation of all seismic data, petroleum systems evaluation, QI and maturing of prospect and lead inventory.

DESCRIPTION OF BLOCKS

The reference hereunder is to the name of the map sheet of the 1:1,000,000 series prepared and published for the purposes of the Offshore Petroleum and Greenhouse Gas Storage Act 2006 and to the numbers of graticular sections shown thereon.

Map Sheet SI53 (Port Augusta)

This notice takes effect on the day on which it appears in the Australian Government Gazette.

Made under the Offshore Petroleum and Greenhouse Gas Storage Act 2006

of the Commonwealth of Australia.

GRAEME ALBERT WATERS

TITLES ADMINISTRATOR

ON BEHALF OF THE COMMONWEALTH-SOUTH AUSTRALIA

OFFSHORE PETROLEUM JOINT AUTHORITY