Bridgeport is pleased to report that on 10 May 2022 it executed a farmin agreement with Santos Limited to earn 50% interest and operatorship in exploration permit ATP 2023. Bridgeport holds 30% and Leigh Creek Oil & Gas (a wholly subsidiary of NeuRizer Ltd) holds 20% from an earlier farmin deal with Bridgeport. Both transactions are subject to Departmental approval.
Farmin obligations include Santos drilling three exploration wells in ATP 2023, a gas-prone area of the southern Cooper Basin in southwest Queensland. The first farmin well is planned to commence in late CY2022.
Bridgeport looks forward to working with this new joint venture in a prospective area of the Cooper Basin.