AWE Limited (ASX: AWE) advised that the Native Title phase of the renewal process for onshore production licences L1/L2 (AWE 50%, Operator) in the northern Perth basin, Western Australia, has commenced.
The Western Australia Department of Mines, Industry Regulation and Safety has issued section 29 notices under the Native Title Act 1993 for the renewal of the L1/L2 production licences which encompass the Waitsia gas project. The Native Title processes have been triggered as a result of changes in Western Australian law which altered the proposed term of the renewal period for L1/L2 from a period of 21 years to an indefinite or perpetual term.
Production licences L1/L2 will remain in place and continue to be valid during the renewal process, including any period of negotiations with Native Title parties which have registered claims over any of the production licence areas. The majority of the land which is within the area of L1/L2 is subject to the prior grants of freehold title and is therefore not subject to, or available for, claim under the Native Title Act. The Joint Venture’s existing rights and obligations under L1/L2 will continue until the new titles have been granted.
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