Port Bonython
Port Bonython Fuels Pty Ltd, a wholly owned subsidiary, has been established to construct and operate a fuels storage, processing and supply facility at Pt Bonython near Whyalla in South Australia's upper Spencer Gulf. This project will have the capacity to import & distribute 500 million litres of fuel annually.
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Angola
Angola is the second largest producer of oil in Sub-Saharan Africa. Stuart has entered into a joint venture with Angola based Giraul Petroleum, and pre-qualified for bidding in the next round of onshore Licence Applications.
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Timor Sea
The AC/P33 permit in the Timor Sea (AShmore Cartier) has been sold prior to the spud date of the Oliver 2 appraisal well. Stuart no longer has an interest in the permit.
Stuart has completed a seismic mapping project in the adjoining AC/P35 permit and based on the lack of drillable prospects, has withdrawn from this permit.