Top End Energy Limited (Top End or the Company) (ASX:TEE) is pleased to announce that the exploration agreement for Exploration Permit (EP) 258 (the Permit) in the McArthur Basin, Northern Territory, has now been executed. The execution of the agreement paves the way for the formal grant of the Permit.

HIGHLIGHTS

• Execution of the Exploration Agreement between the Company and the native title holders of EP 258

• Critical step for achieving grant of the Permit, which would represent the first EP to be granted in the Northern Territory since 2015

• Grant of the Permit expected in the coming weeks

EXPLORATION AGREEMENT WITH NATIVE TITLE HOLDERS

The Company announced in April 2023 that the Northern Land Council (NLC) had received instructions from the native title holders of EP 258 for the Top End (Default PBC/CLA) Aboriginal Corporation (Top End PBC) to enter into the agreement which governs the terms and conditions for exploration on the Permit (the Exploration Agreement).

The Top End PBC is the native title body corporate acting as the agent for the native title holders. Pursuant to the NLC’s internal processes, the Exploration Agreement has now been executed by the Top End PBC and the Company.

Execution of the Exploration Agreement has been a critical path item to achieving grant and, subject to final approval from the Northern Territory Government, we expect formal grant to occur in the coming weeks. 

To view full ASX announcement, click here.