Anzon Australia (AZA)

Shares / Stock Code

AZA

Stock Exchange / Sharemarket

Australian Securities Exchange

Anzon Australia (AZA) is a leading oil and gas company principally focused on the development, commercialisation and further exploration of oil and gas fields in Australia, New Zealand and South East Asia. Its principal asset base include a 50% interest in the Victorian Retention Leases in the Gippsland Basin, Bass Strait, off shore south eastern Australia with AZA being the operator of these fields. The Company listed on the Australian Stock Exchange on 15 December, 2004. Anzon Energy Limited is the ultimate parent of Anzon Australia and it holds 53.11% of the ordinary share capital. Anzon Energy Limited has acquired a 100% interest in the Victorian Retention Leases VIC/RL 6, VIC/RL 9 and VIC/RL 10 (the Retention Leases), which comprises Basker, Manta and Gummy fields (the BMG Fields), from Woodside Eastern Energy Pty Limited Basker Manta Gummy (BMG) Joint Venture owns three production licences in the Gippsland Basin.

The Company owns 65.7 million shares in Nexus Energy Limited (NXS) representing about a 12% interest in NXS’ share capital. NXS owns about 19.24% of the Anzon Australia Ordinary Shares on issue. Anzon’s offshore Gippsland Basin project has huge reserves of oil and gas with estimated proved and probable (2P) ultimate recoverable volumes of more than five billion barrels of oil and more than ten trillion cubic feet of sales gas. AZA’s development and production activities concerning Anzon Australia Basker Manta project have been contracted to AGR Asia Pacific (AGR AP), a hydrocarbon production operations service company.

Anzon Australia History

Anzon was established on 16 December 2003 by its founding shareholder, Anzon Energy Ltd. It listed on the ASX on 15 December 2004 with an initial market capitalisation of AUD 126 million after successfully raising AUD 45 million. Anzon Energy acquired a 57.3% interest in Anzon Australia. It acquired 100% interest in the Victorian Retention Leases, which comprise the Basker, Manta and Gummy fields from Woodside Eastern Energy Pty Ltd in March 2004. Beach Petroleum Limited acquired 8.9% interest in the company and a 25% interest in the retention leases as of October 7, 2004.

Anzon Australia signed contracts for major items of equipment, such as drilling rigs, floating production storage offtake vessel (FPSO) and shuttle tanker for the Basker-Manta oil development project by May 2005. It sold further 12.5% interest in the Petroleum RLs for AUD 39 million to Beach in August 2005. In early 2005, AZA commenced the development of Basker-Manta oil development project in Gippsland Basin area of Bass Strait. In December 2005, Beach acquired an additional 12.5% interest in the RL areas for AUD 50 million from Anzon Australia, bringing its total interest to 50% with Anzon Australia remains the operator of the BMG fields. In January 2006, AZA commenced drilling of the Manta 2 development well. Anzon Australia’s acquired Nexus lapsed in June 2006, thus securing 17.8% of Nexus at that time. AZA acquired a 15% interest from Tap Oil Limited (Tap) in PEP 38259, an exploration permit located in the Canterbury Basin, offshore New Zealand’s South Island.

In March 2007, the Company signed a conditional 15 year gas sales agreement (GSA) with Alinta Limited (Alinta). It sold a 10% interest in the BMG JV project to Itochu Corporation for AUD 123 million. On 23 October 2007, Nexus acquired up to 17.8% shares in Anzon. Anzon Australia signed amerger agreement with ARC Energy on 24 October 2007. In 5 December 2007 Nexus’ shareholding in Anzon Australia increased up to 19.2%.

$550 FREE Brokerage - Save money on Commissions!
ANZ E*Trade is offering you $550 worth of free brokerage.
invest.etrade.com.au