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Bengal Energy Ltd T.BNG

Alternate Symbol(s):  BNGLF

Bengal Energy Ltd. is an international junior oil and gas exploration and production company with assets in Australia. The Company’s producing and non-producing assets are situated in Australia’s Cooper Basin. The Company’s core Australian assets, Petroleum Lease (PL) 303 Cuisinier, Authority to Prospect (ATP) 934 Barrolka, Potential Commercial Area (PCA) 332 Tookoonooka, and four petroleum licenses (PL) are situated within an area of the Cooper Basin that is served with production infrastructure and take-away capacity for produced crude oil and natural gas. In addition, it owns 26 kilometers (km) six high pressure gas pipeline (PPL 138) connecting the Wareena field to a large raw gas network passing its prospects at ATP 934. It has a 30.375% interest in two PLs on the former ATP 752 Barta block, PL 303 and PL 1028. In addition, it has three PCAs associated with ATP 752, which are the Barta block, PCA 206 and PCA 207 and PCA 155 in the Wompi block, which contains the Nubba well.


TSX:BNG - Post by User

Bullboard Posts
Comment by efficientmyasson Feb 12, 2017 6:12pm
43 Views
Post# 25835032

RE:RE:RE:RE:RE:RE:Shefu-1 oil Discovery Has substantial Upside Implications

RE:RE:RE:RE:RE:RE:Shefu-1 oil Discovery Has substantial Upside Implications
Santos has ~55%, BNG ~30 and Bridgeport ~15% and BNG has ROFR if Santos sells their intrest in ATP 752/pl303.  I think the only way beach gets involved is if they are going to take BNG out as well and they will not be able to do that unless BNG wants it to happen (which i suspect they wont). 

Beach has already sold a bunch of their operated Queensland oil assets, so getting involved at Cuisineir would be inconsistent with their strategy of optimising their core in the Cooper Basin (western flank).  I believe they are in the process of selling their non operated Queensland assets as well.

Hopefully Bengal finds a way to operate cuisinier without dillution .....that would get the markets attention...... do it with debt.....really swing for the fences!!  
Bullboard Posts