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Latest approvals of oil search subsidy payments



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FOR PRESS:

LATEST APPROVALS OF OIL SEARCH SUBSIDY PAYMENTS

(Statement by the Minister for National Development, Senator the Hon. Sir William Spooner, K.C.M.G., M.M.)

During June 1963 I approved fifteen applications for

subsidy under the Petroleum Search Subsidy Act 1959-1961. Five

approvals were for drilling operations and ten were for

geophysical surveys. ■ .

The approvals, with the maximum permissible amounts

payable, are as follows:-Stratigraphic Drilling -£·â– ·.

Amalgamated Petroleum Exploration Abercorn No. 1, Queensland 25,579

Exoil (N.T.) ’

Alice No.1, Northern Territory 69,591

Alliance Oil Development _ .

Bonaparte No.1 , Western.Australia .... . . 98,787

Test Drilling · · ' : '"■·â– '

Planet Exploration .

Warrini11a No.1, Queensland 38,858

Union-Kern . . . . . :

Tingan No.1, Queensland " ' .. -____ .40r662

Seismic Surveys ' ' ' ' " ’ .

Associated Group ' '" '

Emerald area, Queensland 73,068

Cairnhope-Rimbanda area, Queensland 16,324

Alliance Oil Development...... : ' ' ' ' '

Jer.icho area, Queensland . 29,700

Union-Kern . · . ...

Flinton area, Queensland 64,285

Mid-Eastern Oil ' ~ · ; · . · · . · ■ ·

Karumba area, Queensland" “ 41,517

Aeromagnetic Surveys . - .

Ampol Exploration (Qld) .

IVIackay area, Queensland . . . 4,200

Hackathorn Oils . ·

Stansmore Range area, V/estern Australia 2,431

Seismic Analysis Incorporated . , ,

Echuca, area, Victoria ' 2,647

z3arkley Oil Company ' · : . .

Airoy-Walhallow, Northern Territory . 2,462

Exoil (N.S.W.) · ·

Charlotte Waters area, Northern Territory 4,543

.During, the period, I also approved five applications

for additional subsidy:- . .

Stratigraphic Drilling . '

Mid-Eastern Oil Kyogle No,1 7,800

Test Drilling

Associated Group Kildare No.2 20,043

Seismic Survey

■ Associated Group .

Sunnybank-Wallumbilla Seismic " 52

Erome-Broken Hill South West Victoria 4,126

Beach Petroleum Mayurra area, South Australia 3,000

The total subsidy involved in these latest approvals is: £549,675