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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.