Gas-field may not be golden
NZPA Sydney , The Golden Beach gas-field ' in Bass Strait could be heavily downgraded as a result . of further seismic surveys planned by 8.H.P.. said the /managing-director of Austra- ’ lian Oil and Gas Corporal-- ( ion, Ltd (Mr D. J. McGarry)! .at the company’s annual' meeting. i B.H.P. inherited its majori ity interest in the field when > it purchased the Burmah Oi l - company’s shares in Wood-: side-Burmah. Australian Oil and Gas has a 10 per cent working interest in the field. ' “We put the reserves at between 98 and TOO billion [Cubic feet,” Mr McGarry • said. “But B.H.P.’s technical - people think the structure s might be smaller than earlejier seismic surveys had! '! indicated and the reserves could be cut back to around 5 50 billion cubic teet.” L .! The partners still hope tijthat initial sales of Golden sjßeach gas will be negotiated ,;in the near future, Mr I McGarry said.
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Press, 18 December 1976, Page 19
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154Gas-field may not be golden Press, 18 December 1976, Page 19
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