UIL ticks another box in preparation for 2017

By Trevor Hoey. Published at Dec 13, 2016, in Energy

UIL Energy (ASX:UIL) has taken another step towards developing the Ocean Hill prospect located in the Perth Basin of Western Australia with the appointment of Ecologia Environmental Consultants.

The group which has completed 230 environmental projects over the last five years will conduct an on ground environmental assessment in relation to the planned Ocean Hill 3-D seismic program.

This news comes on the back of last week’s announcement that the company had engaged Aztech Well Construction to prepare the Ocean Hill 2 well design which will be submitted to the Department of Mines and Petroleum for approval.

UIL is planning the acquisition of 3-D seismic data covering up to 250 square kilometres of Ocean Hill permit EP495. The environmental assessment will form part of the environmental approvals, paving the way for the commencement of key developments in 2017.

Investors considering UIL should not use forward-looking statements alone or assumptions to form the basis of an investment decision. UIL is an early stage exploration company and independent financial advice should be sought if considering this stock.

With regard to UIL’s assets, the company’s permits (as outlined below) in Western Australia provide it with access to the largest domestic gas sector in Australia.

Management has highlighted that the gas market in that state is supply constrained with estimated gas prices to rise above $10 per gigajoule in real terms over the next 16 years.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

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The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

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