Notice of Cancellation of Petroleum Exploration Permit VIC/P68

COMMONWEALTH OF AUSTRALIA

Section 275

Offshore Petroleum and Greenhouse Gas Storage Act 2006

NOTICE OF CANCELLATION OF

PETROLEUM EXPLORATION PERMIT VIC/P68

I, GRAEME ALBERT WATERS, the National Offshore Petroleum Titles Administrator, on behalf of the Commonwealth-Victoria Offshore Petroleum Joint Authority hereby cancel Petroleum Exploration Permit VIC/P68 of which

Bass Oil Limited

(ABN 13 008 694 817)

is the registered titleholder, on the following grounds:

• Non-compliance with Condition 1 and Condition 3 of Petroleum Exploration Permit VIC/P68, specifically the failure to meet the Permit Year 3 commitment to acquire a 225 km² new 3D seismic survey.

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 SJ55 (Melbourne)

Assessed to contain 16 blocks.

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-VICTORIA

OFFSHORE PETROLEUM JOINT AUTHORITY