ONSHORE ACREAGE RELEASE 2001

Abstract

It is my privilege to present the onshore acreage release for the year 2001 on behalf of the States and Territories.

I will be presenting the information as supplied to me by each department of the States and Territories.

Before doing so, I would like to make a few remarks. Many of these will be familiar to you, but I believe bear repeating to remind ourselves.

While there appears to be a resurgence of onshore interest and activity, last year saw the lowest level of onshore exploration activity in many years.

At the risk of being emotive, Australia does not deserve this poor level of exploration activity.

Australia has vast sedimentary basins, and these are under-explored by any world standards. Targets range from Palaeogoics (even neo-Proterozoic) to Tertiary.

Australia needs:

To have innovative concepts.

The drive to carry out these concepts.

Support of the governments and community.

Financial backing of good ideas and good people.

Land access.

While this list is not exhaustive, it does encapsulate the key issues.

The opportunities for onshore oil and gas successes are vast so I urge all in the industry to pursue these opportunities.

And now, I turn to each state, starting with Queensland.