Westralian Gas and Power holds a diversified portfolio of interests. The Company has highly prospective Western Australian holdings, both onshore and offshore, which are currently undergoing exploration and assessment.
The Company owns most of the prospective Coal Seam Gas leases in Western Australia and has gained two offshore petroleum permits covering 4530 sq km off the Perth coast.
Through joint venture arrangements with ROC Oil on the offshore holdings, and with Oswest Energy on a significant number of its onshore holdings, WGP is set to gain a free carried interest without expenditure.
At the same time, WGP is working to finalise negotiations to become a joint venture partner with a major international petroleum company to expand its on and off-shore exploration activities throughout Australia.
WGP is currently in discussion on the capture and burial (geosequestration) of carbon dioxide within both its onshore and offshore leases. The Company believes it has potential reservoirs to bury millions of tons of carbon dioxide – a new area of WGP’s business that can help keep the air cleaner in the future.
In addition, the Company holds over 4000 acres of oil properties in Kentucky. The leases are producing sufficient oil to almost cover the field operating overheads of the Company’s US subsidiary Sunset Energy LLC.