Notice of Cancellation of Petroleum Exploration Permit VIC/P66

COMMONWEALTH OF AUSTRALIA

Section 275

Offshore Petroleum and Greenhouse Gas Storage Act 2006

NOTICE OF CANCELLATION

PETROLEUM EXPLORATION PERMIT VIC/P66

I, GRAEME ALBERT WATERS, The National Offshore Petroleum Titles Administrator, on behalf of the Commonwealth-Victoria Offshore Petroleum Joint Authority, gives notice that the Joint Authority cancels all blocks comprising Petroleum Exploration Permit VIC/P66, of which the following companies are the registered titleholders:

Bass Strait Oil Company Limited

(ABN 13 008 694 817)

Strategic Energy Resources Limited

(ABN 14 051 212 429)

Oil Basins Limited

(ABN 56 006 024 764)

The reason for the cancellation of title is failure to comply with Condition 1 and Condition 4 (work program requirements) of Petroleum Exploration Permit VIC/P66, specifically the Permit Year 3 work program commitment to acquire and process 50 km2 of 3D seismic survey data within the permit area.

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 Act 2006 and to the numbers of graticular sections shown thereon.

Melbourne Map Sheet [SJ 55]

Assessed to contain 32 blocks

Dated this 18th day of March 2014.

Made under the Offshore Petroleum and Greenhouse Gas Storage Act 2006 of the Commonwealth of Australia.

GRAEME ALBERT WATERS

TITLES ADMINSTRATOR

ON BEHALF OF THE COMMONWEALTH-VICTORIA
OFFSHORE PETROLEUM JOINT AUTHORITY