Top End Energy to Focus on Accelerating Development of Northern Territory Exploration Permits, Shares Fall 7%

MT Newswires Live

04/22

Top End Energy (ASX:TEE) said it is developing new environmental management plans to align its granted exploration permits in the Northern Territory, EP 153, EP 154, and EP 144, to its renewed focus on accelerating the development of the permits, according to a Tuesday Australian bourse filing.

The firm is strategically and technically evaluating its current permits and noncore permit applications portfolio, the filing said.

The work programs for EP 153 and EP 154 include further definition of the extent of the Beetaloo Basin architecture through the permits with an airborne gravity survey. It also plans to conduct a seismic program as well as exploration and stratigraphic drilling to test for deeper shales and Velkerri distribution.

Its shares fell 7% in recent trading on Tuesday.

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