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Company History

WestSide Corporation Pty Limited was established as an unlisted public company in November 2005 to participate in the development of coal seam gas projects in Queensland. 

In February 2006 WestSide signed Heads of Agreement with Sunshine Gas Ltd to form a joint venture for the development of a number of Queensland CSG tenements held by Sunshine Gas. In September 2006 formal Acquisition, Farm-in and Joint Operating Agreements were executed. 

The company successfully completed its IPO and listed on the ASX in January 2007. WestSide completed its farm-in obligations with Sunshine Gas in June 2007 for ATP 688P and ATP 769P to earn a 50 per cent joint operating interest in each tenement.

WestSide elected not to complete the farm-in to two other tenements, ATP 811P and ATP 693P as initial studies concluded that their prospectivity was unlikely to meet WestSide's benchmarks.

In the 3rd quarter of 2007, Sunshine Gas was acquired by Queensland Gas Company (QGC). QGC was acquired by BG in late 2008 and WestSide has continued to work closely with QGC in joint venture since then.

WestSide completed the transition from explorer to producer in July 2010 after joining with Mitsui E&P Australia Pty Ltd (MEPAU) to acquire the Dawson CSG fields near Moura in Queensland's Bowen Basin from existing owners Anglo American (Anglo) and Mitsui Moura Investment Pty Ltd (MMI).

The Meridian SeamGas CSG fields comprise a range of CSG assets including a petroleum lease, gas rights in mining leases and gas compression and pipeline infrastructure connected to Queensland's commercial gas network.

In July 2010 WestSide secured a significant foothold in Queensland’s coal-rich Galilee Basin after being formally granted two exploration tenements, ATP 974P and ATP 978P covering a combined area of 13,280 km2 in the north-western part of the Galilee Basin. Mitsui subsequently farmed in to join WestSide as a 49 per cent Joint Venture partner in these two tenements. 

However, after undertaking an initial exploration program WestSide decided to relinquish its interest in these two tenements in March 2014 in order to concentrate on developing Meridian SeamGas.

WestSide and QGC completed a restructure of their Bowen Basin joint operating agreements in mid-2011, following which Mitsui acquired 49 per cent of WestSide's interests in ATP 688P and ATP 769P or 24.5 per cent of each tenement.

In March 2014 executed GLNG Gas Sales Agreement.

In May 2014 Landbridge Group launched a successful takeover of WestSide.

Transformation

"WestSide completed the transition from explorer to producer in July 2010 after joining with Mitsui E&P Australia Pty Ltd (MEPAU) to acquire the Dawson CSG fields near Moura in Queensland's Bowen Basin from existing owners Anglo American and Mitsui Moura Investment Pty Ltd."

WestSide timeline

  • November 2005 - WestSide established
  • February 2006 - HoA signed with Sunshine Gas
  • September 2006 - Joint Venture with Sunshine Gas executed
  • January 2007 - WestSide lists on the ASX
  • June 2009 - initial reserve certification
  • December 2009 - WestSide secures option to buy 51% operating interest in Dawson Seamgas asset
  • July 2010 - WestSide finalises acquisition of operating interest in renamed Meridian SeamGas
  • September 2010 - WestSide finalises acquisition of Galilee Basin tenements
  • October 2010 - Mitsui exercises option to farm-in for 49% of Galilee Basin acreage
  • June 2011 - WestSide and QGC restructure Bowen Basin tenement Joint Venture Agreements
  • July 2011 - Mitsui executes Bowen Basin tenment farm-ins, joining WestSide and QGC in Joint Venture
  • March 2014 - Meridian Joint Venture executes transformational 20-year Gas Supply Agreement with GLNG
  • May 2014 - China's Landbridge Group Co Ltd launches successful takeover offer for WestSide