Cooper Energy (COE) announced that the Casino Henry Joint Venture (the JV which comprises Cooper Energy (50%) and Operator, Mitsui E&P Australia Limited (25%) and Peedamullah Petroleum Pty Ltd1 (25%)) has signed a new gas sales agreement with Origin Energy Retail Limited.
The new agreement provides for the supply from the joint venture to Origin Energy from January 2019 to January 2020 at current market prices. The joint venture also entered into a new agreement with Lochard Energy for processing at the Iona Gas Plant for a minimum of one year and a maximum of three years, to support a smooth transition to the Minerva Gas Plant in due course.
Production from Casino Henry is currently supplied to Origin Energy under a gas sales agreement that expires by the end of December 2018.
Cooper Energy Managing Director David Maxwell said the new gas sales agreement, which was negotiated after a competitive tender, was the sixth term gas contract Cooper Energy had written in the past three years.
As announced to the ASX in May, the Casino Henry joint venture has an agreement with BHP Billiton Petroleum (Victoria) Pty Ltd to acquire the Minerva Gas Plant on termination of its current operations processing gas from the Minerva gas field.
The Casino Henry joint venture also holds the adjoining VIC/P44 exploration permit and VIC/RL11 and VIC/RL12 retention licences.
