![rsa onshore gas rsa energy crisis](https://www.bastionoil.com/wp-content/uploads/2022/06/Picture1.png)
We are pleased to advise that Bulwark Oil and Gas SA (Pty) Ltd (“Bulwark”), an affiliate of Bastion Oil and Gas South Africa (Pty) Ltd (“Bastion”), has been granted seven technical cooperation permits (“TCP”). TCP209, TCP210, TCP211, TCP213, TCP214, TCP215 and TCP217 are detailed on the attached maps above and below. The combined TCP areas measure approximately 26 610 km². The current Bastion TCP areas measure approximately 3 295 km². We would like to thank the Petroleum Agency for the speed and professionalism with which these applications were dealt with.
![rsa onshore gas bulwark tcp applications granted](https://www.bastionoil.com/wp-content/uploads/2022/06/Picture2-1.png)
Link to the map:
https://www.petroleumagencysa.com/images/pdfs/Hubmap0522.pdf
It is our belief that these TCP areas hold onshore gas potential which together with renewables is the future of South Africa’s just energy transition. The significant future of gas in South Africa was echoed at the Enlit Africa conference held this week in Cape Town.
In a recent article that appeared in News24 the following was said:
Andre de Ruyter, Eskom’s CEO stated that South Africa’s power system as an island. The country does not have the luxury of tapping into alternative energies from its neighbours in the way that Germany relies on France for nuclear or Norway for hydropower when its wind turbines are not generating power. We need dispatchable power to make up for the variability we inevitably see from renewable energy. Renewable energy only works when the wind blows or the sun shines. Eskom’s modelling shows that there cannot be a stable system without accessing a resource like coal. Eskom will be a significant user of coal for an extended period, even beyond 2035, after 22GW of power stations are decommissioned. But gas is less polluting than coal and can provide a secure supply.
Thabang Audat, chief director of energy planning at the Department of Mineral Resources and Energy (DMRE), shared views that South Africa is seeking gas from the Southern African Development Community region and indigenous gas. Other options are to expand the current Rompco pipeline. There are also expectations that Total Energies exploration block 11B/12B or the Brulpadda find off the east coast, will start yielding gas by 2027, said Audat. The DMRE is finalising the request for proposals to procure 3 000MW of gas-to-power by October this year. We believe the programme will stimulate gas demand in South Africa. The department is also finalising a Gas Master Plan, which will outline where gas demand will come from and the supply infrastructure required. This plan is expected to be finalised by March 2023. It requires Cabinet approval.
Bastion is in the final stages of preparing its proposed work programme and budget for its exploration right applications which will be submitted this month to the Petroleum Agency.
As Bastion and Bulwark continue to de-risk these onshore gas opportunities, we look forward to partnering with like-minded companies, development finance institutions and industry as joint venture partners, financiers, contractors and gas off-takers.
For more information please contact the undersigned at barrisford@bastionoil.com or info@bulwarkoil.co.za
Barrisford Petersen
Founder and Managing Director
Bastion Oil and Gas South Africa (Pty) Ltd
Bulwark Oil And Gas Sa (Pty) Ltd
Rockit Energy (Pty) Ltd
LEGAL DISCLAIMER
DISTRIBUTION OF THIS DOCUMENT MAY BE RESTRICTED BY LAW. ACCORDINGLY, THIS DOCUMENT MAY NOT BE DISTRIBUTED IN ANY JURISDICTION EXCEPT IN ACCORDANCE WITH THE LEGAL REQUIREMENTS APPLICABLE TO SUCH JURISDICTION. IN PARTICULAR, YOU MAY NOT DISTRIBUTE, FORWARD, REPRODUCE, TRANSMIT OR OTHERWISE MAKE AVAILABLE THIS DOCUMENT OR DISCLOSE ANY INFORMATION CONTAINED IN IT OR CONVEYED DURING ANY ACCOMPANYING ORAL PRESENTATION (THE “INFORMATION”), IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN ANY JURISDICTION WHERE TO DO SO WOULD BE UNLAWFUL. FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF APPLICABLE SECURITIES LAWS. PERSONS INTO WHOSE POSSESSION THIS DOCUMENT COMES ARE REQUIRED BY THE COMPANY TO INFORM THEMSELVES ABOUT AND TO OBSERVE ANY SUCH RESTRICTIONS. NEITHER BASTION OIL AND GAS SOUTH AFRICA (PTY) LTD (INCLUDING ITS AFFILIATE BULWARK OIL AND GAS SA) (“COMPANY”) NOR ITS DIRECTORS, OFFICERS, EMPLOYEES, RESPECTIVE AFFILIATES, AGENTS OR ADVISERS ACCEPT ANY LIABILITY TO ANY PERSON IN RELATION TO THE DISTRIBUTION OR POSSESSION OF THIS DOCUMENT IN OR FROM ANY JURISDICTION.
The Document and the Information have been prepared by or on behalf of and is the sole property of the Company. The Information is being provided to you is not a complete record. The Information does not purport to be full or complete and does not constitute investment advice. No representation or warranty, express or implied, is given by or on behalf of the Company, its affiliates, agents or advisers or any other person as to, and no reliance may be placed for any purposes whatsoever on, the adequacy, accuracy, completeness, fairness or reasonableness of the Information. None of the information has been independently verified by the Company, its affiliates, agents or advisers or any other person, and no liability or responsibility whatsoever is accepted by any of them for any loss howsoever arising, directly or indirectly, from any use of the Information or otherwise arising in connection therewith. The Company, its affiliates, agents and advisers do not undertake and are not under any duty to update this Document or to correct any inaccuracies in the Information which may become apparent or to provide you with any additional information.
The sole purpose of this Document is to provide background information to assist you in obtaining a general understanding of the business of the Company. This Document does not constitute an offer to sell, or a solicitation of an offer to buy or subscribe for, securities of the Company in any jurisdiction. It is not intended to provide the basis of any investment decision, financing or any other evaluation and is not to be considered as a recommendation by the Company, its affiliates, agents or advisers that any recipient of this Document purchase or subscribe for any securities in the Company. Each recipient of this Document contemplating any investment in the Company is required to make and will be deemed to have made its own independent investigation and appraisal of the business, results of operations, financial condition, liquidity, performance and prospects of the Company and the merits and risks of an investment in the securities of the Company. The delivery of this Document at any time does not imply that the information in it is correct as of any time after its date, or that there has been no change in the business, results of operations, financial condition, liquidity, performance and prospects of the Company since that date and no obligations is accepted to update any such information after the date of the Document. No person affiliated with the Company, their directors, officers, employees, respective affiliates, agents or advisers has been authorised to give any information or to make any representation not contained in this Document and, if given or made, such information or representation must not be relied upon. This Document may contain forward-looking statements, including, but not limited to, statements as to the Company’s business, results of operations, financial condition, liquidity, performance and prospects and trends and developments in the markets in which the Company operates. Forward-looking statements include all statements other than statements of historical fact and in some cases may be identified by terms such as “targets”, “believes”, “expects”, “anticipates”, “estimates”, “aims”, “intends”, “will”, “may”, “would”, “could” or, in each case, their negative or comparable terms. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances that may or may not occur. Several factors, which may be beyond the control of the Company, its affiliates, agents and advisers, could cause actual results and developments to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements in this Document reflect the Company’s view with respect to future events as at the date hereof and are subject to known and unknown risks, uncertainties and assumptions relating to the Company’s operations, results of operations, financial condition, growth, strategy, liquidity and the markets in which the Company operates. No assurances can be given that the forward-looking statements in this Document will be realised. Forward-looking statements are not guarantees of future performance. The Company, its affiliates, agents and advisers undertake no obligation and do not intend to update any forward-looking statements in this Document to reflect events or circumstances after the date of this Document.
Recent Comments