Liberty Petroleum specializes in acquiring government exploration licenses in offshore and onshore Australia. LPC’s business model is to capture early stage and/or frontier area that have major (one billion barrel plus) exploration opportunities. Once captured, LPC seeks to find a world class operator to de-risk the opportunity thru a seismic and drilling commitment. Under the Farm-out Agreements, LPC typically retains an Overriding Royalty Interest (“ORRI”).
Liberty currently holds interests in onshore blocks in the Cooper/Eromanga/Officer Basins. These Basins are the preeminent onshore oil producing areas in the entire inter-continent of Australia. Liberty’s blocks in Queensland are operated by Santos while Beach and Discovery Energy operate blocks in South Australia. The Company also has significant land holdings in the Officer Basin located in Western Australia.
Liberty also holds interests in several offshore blocks located in the Gippsland, Bowen and Carnarvon Basins, Australia. These projects are operated by partners such as ExxonMobil, Conoco Phillips, Karoon Gas and Santos.