Theia Energy successfully entered into a land use agreement with the Karajarri Traditional Lands Association over the weekend, giving the company the all-clear to future exploration across exploration permit EP493.
“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 said in a statement.
Theia owns 100% of the EP493, which stretches across a 1 million acres, and is estimated by management to hold 57 billion barrels of oil, according to formal reports which have since been taken down from the website, but cited by the Australian Broadcasting Corporation.
Northbridge Industrial Services plc (LON:NBI) hires and sells specialist industrial equipment to a non-cyclical customer base. With offices or agents in the UK, US, Dubai, Belgium, Germany, France, Australia, Singapore, New Zealand, Brazil and Korea, Northbridge has a global customer base.