COMPANY OVERVIEW

 

Impress Energy Limited (ASX Code: ITC) is an oil and gas exploration and production company with interests in the Cooper Basin South Australia.

 

Impress has a 40% interest in four Exploration Permits (PELs 87, 104, 111 and 424), one Petroleum Retention License, PRL 15 and two Production Licenses, PPL 213 and PPL 214, by way of wholly owned subsidiaries Impress (Cooper Basin) Pty Ltd and Springfield Oil and Gas Pty Ltd.

 

The permits are operated by Victoria Petroleum NL (ASX code: VPE), by way of wholly owned subsidiary Victoria Oil Exploration (1977) Pty Ltd (Victoria) on behalf of a Joint Venture comprising Impress, Victoria, and QGC, by way of wholly owned subsidiary Permian Oil Pty Ltd.

 

The permits and licences are prospective for oil and gas and host the Growler, Mirage and Ventura producing oil fields, the Wirraway, Warhawk, Tigercat and Snatcher oil discoveries, plus a comprehensive portfolio of prospects and leads covering the whole spectrum of exploration targets ranging from low risk/moderate reward to lightly explored/high reward.

 

Impress will continue to explore its current portfolio with the aim of minimising risk and maximising return.  Opportunities outside of the Cooper Basin will be assessed and pursued if they offer value to the company.