Petratherm (ASX: PTR) has been awarded a petroleum exploration licence in central Tasmania that is prospective for both conventional and unconventional oil and gas.
The company’s move into oil and gas exploration leverage on its expertise in basin geology and deep drilling developed from working on engineered geothermal systems.
In the first two years of licence, Petratherm will review previous work, carry out modelling and interpretation of existing geophysical data, field sampling, core collection and analyses.
It will also undertake gravity and/or magneto-telluric surveys to map basin geology.
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