Memorandum of Understanding signed

Theia Energy is pleased to announce that it has signed a Memorandum of Understanding for the supply of gas to the proposed Derby Fertilisers and Petrochemical Complex Project. The project will bring much needed economic activity to the West Kimberley region.

Theia Energy has been working in the onshore Canning Basin since 2012 and have established the substantial hydrocarbon potential of the Lower Goldwyer and Nambeet Formations. Since drilling a successful discovery well, Theia-1, in 2015 we have focussed on establishing good working relationships with the traditional owners of the land on which we propose to operate. This has resulted in indigenous land use agreements that support our Great Sandy Desert Project while providing for strict environmental controls, protection of cultural heritage and economic benefits for traditional owners as well as direct participation in the project through training, cultural heritage protection and environmental management and employment and contracting opportunities.

We would like to congratulate Alfred Benedict and his team for their vision and entrepreneurship in establishing this project in Derby and look forward to a productive partnership that will bring prosperity to the people of the West Kimberley.

Indigenous Land Use Agreements (ILUAs) Signed

Theia Energy is pleased to announce that it has entered into Indigenous Land Use Agreements (ILUAs) with the Karajarri Traditional Lands Association (KTLA) representing the Karajarri People who are the traditional owners of a significant proportion of the lands comprising Theia Energy’s exploration permit EP493 in the onshore Canning Basin, some 150 km southeast of Broome. The company is grateful to the Karajarri People for the trust they have placed in the company to safely and sustainably explore for, and if successful, extract, oil and gas resources from the permit area and transport them to potential markets.

Theia Energy will now focus on further planning of its exploration campaign which shall involve the drilling of a vertical well (Theia-2, to be drilled at the same location as the discovery well Theia-1 drilled in 2015) intersecting the Lower Goldwyer Shale and the Nambeet Formation. Following extensive geo-mechanical testing, both formations will be treated with hydraulic fracture stimulation to further assess geological and petrophysical properties that will form part of an extensive campaign to determine economic feasibility of the Great Sandy Desert Project. Given, further approval requirements drilling and testing may take place in 2022 or 2023.