Block Vic/P71 was granted to Llanberis on 10 October 2016 by the National Offshore Petroleum Titles Authority.
Llanberis has made commitments to do geological, geophysical and engineering studies in the first three-year term, followed by two exploration wells in the second three-year period.
The first exploration well is due by 6 October 2020 and the second by 6 October 2022.
Llanberis says on its website that Vic/P71 is just over 30 kilometres south of the giant billion-barrel Kingfish oilfield operated by ExxonMobil.
