Resources Minister Shane Jones asked for applications in late March to apply for prospecting permits for the Canterbury Basin — much of which is situated off the Otago coast.
Mr Jones said at the time the area had been viewed as a promising but largely untapped opportunity.
He said further prospecting and exploration there could unlock new domestic resources, strengthening New Zealand’s long-term energy resilience and creating valuable economic opportunities.
Crown minerals regulator New Zealand Petroleum and Minerals opened a three-month competitive process for an application, of which one had been submitted by CBX Energy.
The proposal outlined a programme of technical and economic studies, including work on a comprehensive Canterbury Basin development strategy.
Applications closed on June 24 for the petroleum prospect permit.
NZ Petroleum and Minerals petroleum, minerals and offshore renewable energy national manager John Buick-Constable said no competing applications were accepted as complete within the competitive window.
A petroleum prospecting permit was an early stage, low-impact approval that allows a company to search for evidence of petroleum.
Mr Buick-Constable said NZ Petroleum and Minerals would now assess the CBX Energy application against the tests set out in the Crown Minerals Act. Targeted average processing timeframes for petroleum prospecting permits took about three months, he said.
CBX Energy was listed with the companies office in January this year. It is 50% owned by Craig Barry, of Wellington, and the rest is owned by Potai FZ-LLC, of the United Arab Emirates.
Mr Barry previously worked for industry lobby Energy Resources Aotearoa but left last year. He could not be contacted by the Otago Daily Times yesterday.
Potai FZ-LLC is linked to Silver Bull Resources of which Tim Barry is chief executive, president and director. Tim Barry is a University of Otago graduate mining geologist. For a short period, Mr Barry was appointed to an advisory board to Santana Minerals, the company seeking to mine gold in Bendigo. It is not known whether Craig and Tim Barry are related.
NZ Oil & Gas had a prospect to drill for oil in the Barque Prospect in the Canterbury Basin but gave it up in 2021, citing rising costs, the inability to find a commercial partner and the impact of Covid.
Petroleum exploration permits were canned by the Labour-led government in 2018 but brought back by the current government last year.
