Welcome to Ambassador Oil & Gas
Ambassador Oil & Gas Limited was established to participate in the exploration and development of oil and gas projects.
Ambassador has assembled a balanced portfolio of prospective exploration targets in the South Australian sector of the Cooper / Eromanga Basin.
The company's portfolio of projects contains a mix of exploration targets including:
- Low to medium risk conventional oil
- Conventional gas
- Unconventional Coal and Shale gas
This portfolio is targeting near term oil potential and medium term gas opportunity with a strategic footprint in areas highly prospective for tight gas, coal seam gas, and shale gas. Ambassador is targeting early cash flow.
Ambassador was issued a 100% interest in the prospective Petroleum Exploration Licence PEL 570 in the 2010 bidding round. The licence was awarded by the South Australian Government following a competitive work program tender.
Additionally, Ambassador Exploration has entered into Farm In Agreements with ASX listed Senex Energy Limited (SXY) whereby Ambassador Exploration have the right to earn, by way of Farm In, a 50% interest in the Zulu block contained in the Petroleum Exploration Licence 113 and a 60% interest in the Rowley and Mudlalee blocks contained within the Petroleum Exploration Licence 516.
The Cooper Basin is linked to the entire east coast gas market by an existing gas pipeline network. Cooper Basin gas is also expected to be sold and exported via the planned Gladstone Liquefied Natural Gas terminal currently being developed in Queensland.
The unconventional coal and shale gas potential in PEL 570 will allow shareholders to potentially gain ground floor access to a new emerging source of natural gas and gas liquids. The recently announced shale gas acquisitions by BHP Billiton highlight the focus of the global energy industry on unconventional gas.
The Company believes that the combination of its Projects, the Cooper / Eromanga Basins' outstanding record of discovery and the experience and expertise of the management team are the core drivers for the long term success of the company.