Petrex was established to target major petroleum (oil & gas) accumulations within onshore Australian sedimentary basins utilising innovative, timely and cost-effective exploration techniques.
Petrex undertook an extensive review of all public available information of the Officer Basin and originally applied for seven large special prospecting authorities (with acreage options) within Western Australia. After successfully completing an airborne survey of its acreage testing for hydrocarbon leakage using an Airborne ElectroMagnetic (AEM) – Passive Transient Pulse (PTP) survey 14 petroleum permit applications were applied for.
Petrex widened the scope of its exploration efforts to include exploration for natural hydrogen and helium, with the Officer Basin in Western Australia and South Australia containing the key elements for the generation and trapping of these small molecule gases.
Petrex has since successfully navigated native title negotiations to have two permits granted, with the remaining 12 permit applications progressing through negotiations.
Petrex also expanded its acreage position into South Australia by applying for 8 petroleum exploration licence applications. These applications are progressing through native title negotiations.