Byron Energy subsidiary highest bidder in Mexican auction

THE ROADHOUSE BOWSER: Byron Energy Limited (ASX: BYE) has vicariously picked up an exploration block located in the Central Gulf of Mexico (GOM).

The company’s wholly-owned subsidiary company Byron Energy Inc, was the highest bidder on the block, which was up for grabs in a recent GOM Lease Sale 235 held in New Orleans.

Byron said Byron jr. had successfully bid on Eugene Island Block 18 (EI 18) in the Eugene Island Area of the Outer Continental Shelf in 10 feet of water, approximately 50 miles (81 kilometres) south of Morgan City, Louisiana.

The company explained the final award of the lease is subject to approval by the Bureau of Ocean Energy Management (BOEM).

The total bid amount payable to the BOEM will be US$32,223, assuming the BOEM awards the lease to Byron.

“The EI 18 block will add a new project to Byron’s existing portfolio of projects in the shallow waters of the GOM, inboard of Byron’s existing projects and adjacent to Louisiana State Waters,” Byron Energy Limited said in its ASX announcement.

“EI 18 will be subjected to enhanced seismic reprocessing techniques in the future, assuming final award by the BOEM.”

Email: info@byronenergy.com.au

Website: www.byronenergy.com.au