Bidding to close for Otway Basin exploration permits
Posted
Bidding for four new petroleum exploration licenses in the Otway Basin, near Penola, Lucindale and Tantanoola, closes today at 4:00pm ACDT.
Explorers have had since April to bid for the licence blocks and the successful company is expected to be announced before the new year.
PIRSA's Elinor Alexander says the Otway Basin in the south-east has enormous potential to develop its untapped petroleum reserves.
The combined licence area takes in almost 4,000 square kilometres of land in the south-east.
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