WA exploration ground now in the TEE portfolio

Our domestic gas exploration Investment Top End Energy (ASX: TEE) just got hold of its first acreage in Western Australia - now holding ground in the NT, QLD and WA.

TEE has successfully applied for the L22-6 permit - a ~6,300 km^2 area that sits right on the border of the Northern Territory and Western Australia.

Importantly, the ground hosts untested basin margin extensions to the proven Amadeus Basin in the Northern Territory where TEE already holds ground.

TEE will be looking to explore the ground for gas, natural hydrogen and helium.

We note that the permit is yet to be granted.

TEE still needs to execute a native title agreement and expects this to take ~6-12 months to complete. This will mean that we don't see any exploration newsflow from this new acreage in the short-medium term.

What's next for TEE?

Seismic acquisition program in QLD 🔄

TEE, in an update late in 2022, confirmed it was planning a ~120km seismic acquisition at its QLD gas project.

Here TEE will be looking to infill the data that brought about an independently verified prospective resource of 715 billion cubic feet (on a gross mean unrisked basis).

As of the 29th of November, TEE was still negotiating land access agreements with landowners in the area to get this program started.

At the time, TEE also mentioned that it expected to kick this program off in Q1 2023, so we are hoping for some newsflow from this in the coming weeks.

Seismic acquisition program in QLD 🔄

TEE is also progressing permitting at its NT project.

We covered this in detail in a previous Quick Take which you can view here: Update on permitting for NT gas projects.