The Company was incorporated on 22 August 2012. In September 2012, it acquired 100% of the issued capital of Cottesloe Oil and Gas Pty Ltd. Cottesloe Oil and Gas Pty Ltd was incorporated in 2009 as a petroleum exploration company seeking to acquire prospective oil and gas acreage in the Westralian Superbasin, Papua New Guinea and Indonesia.
The Company intends to continue to build a quality portfolio of exploration opportunities, and deliver multi Tcf and multi MMbbl drilling opportunities. The Company plans to achieve this by using its significant regional expertise and database and focusing on the opportunistic acquisition of undiscovered and underdeveloped resources, and by developing joint ventures with industry partners through its technical expertise and high level industry contacts.
The Company aims to generate value through production of hydrocarbons from discoveries, trade sale of discoveries, sale of exploration opportunities and through its commercial and technical knowledge of adding value in the oil and gas business.