UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
Commission file number 0-28608
PETSEC ENERGY LTD
(Translation of registrant's name into English)
LEVEL 13, 1 ALFRED STREET, SYDNEY, NSW 2000, AUSTRALIA
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F. Form 20-F X Form 40-F [ ]
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes [ ] No X
Certain statements in this report regarding future expectations and
plans of the Company may be regarded as "forward-looking statements" within the
meaning of Section 27A of the USA Securities Act of 1933 and Section 21E of the
USA Securities Exchange Act of 1934. Although the Company believes that its
expectations and plans are based upon reasonable assumptions, it can give no
assurance that its goals will be met. Actual results may vary significantly from
those anticipated due to many factors, including oil and gas prices, operating
hazards, drilling risks, environmental risks and uncertainties in interpreting
engineering and other data relating to oil and gas reservoirs, as well as other
risks discussed in the Company's SEC filings.
The following release was filed with the Australian Stock Exchange on the date
indicated.
PETSEC ENERGY LTD
ACN 000 602 700
30 May 2005
PETSEC AWARDED TWO NEW LEASES IN GULF OF MEXICO - MAIN PASS 18 & 103
Petsec Energy Ltd (ASX, PSA; ADR's, PSJEY.PK)
The US Dept of Interior - Minerals Management Service (MMS) has announced
the award to Petsec Energy of the Main Pass 18 and Main Pass 103 leases in
the Gulf of Mexico, USA.
The leases were previously held by Mobil and have produced a combined 2.5
million barrels of oil and 100 billion cubic feet of gas.
Petsec will have a 100% working interest and an 83.33% net revenue interest
(after government royalties) in each lease.
The leases are adjacent and to the north of Petsec Energy's Main Pass 19
lease where the first two wells in the current three well drilling
programme have each discovered seven gas sands. Development of these
discoveries has commenced and commercial production is expected to begin
early in the fourth quarter of 2005.
The acquisition of these two leases gives Petsec Energy three contiguous
blocks and the opportunity for operational efficiencies in the Main Pass
area.
Details of the two leases and acquisition prices are:
LEASE AREA ACQUISITION PRICE
Main Pass 18 2,497 acres US$1,488,800
Main Pass 103 4,995 acres US$ 529,990
For Further Information:
Mr. Craig Jones Mr. Ross A. Keogh
Petsec Energy Ltd Petsec Energy Inc.
Level 13 3861 Ambassador Caffery Parkway
1 Alfred Street Suite 500
Sydney NSW 2000 Lafayette, LA 70503
Tel: 612 9247 4605 Tel: 1 (337) 989 1942
Fax: 612 9251 2410 Fax: 1 (337) 989 7271
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Petsec Energy Ltd
Date: June 02, 2005 By: /s/ Craig Jones
Craig H. Jones
Group Manager - Corporate