Black Mountain Energy will complete all detailed seismic surveys for the Valhalla project after Western Australia’s Department of Mines, Industry Regulation and Safety deemed the detailed survey non-threatening to the region’s flora or ecological communities.
At the same time, an independent heritage survey with the land’s traditional owners also ensured there would be no impact on areas of cultural significance.
With approvals in hand, the upstream oil and gas company plans a sensitive approach in carrying out the survey – ensuring no harm comes to the iconically Australian Greater Bilby.
The timely project comes as gas storage levels remain significantly short of the five-year average for this time of year.
The Valhalla project holds an independent estimate of 11.8 trillion cubic feet of prospective gas in the Canning basin, one of the world’s largest undeveloped gas reservoirs.
Adjacent to three natural gas markets, Valhalla would form an essential cog for the state’s energy security while providing exports for thriving international demand.
BME’s Australian Stock Exchange-listed share price has risen 3.7 per cent today, trading at 14c (10:52 am UTC+ 8 hours).