The HoA is the first agreement for the supply of gas from Sole, which is currently in Front End Engineering and Design (FEED) in preparation for the Final Investment Decision (FID). The HoA sets out the key commercial terms for the supply of gas of one PJ\/a for the lesser of eight years, or the life of the field, from Cooper Energy's share of Sole production. \n\nThe volume contracted represents eight per cent of the company's share of the field"\u02dcs anticipated production. \n\nCooper Energy holds a 50 per cent interest in Sole and the Orbost Gas Plant, from which the gas will be supplied to O-I Australia, with the balance being held by Santos. \n\nThe terms set out in the HoA will form the basis of a fully termed gas sales agreement which will be subject to an affirmative FID for development of the field. It is expected the FID will be made by September 2016, and that first supply from Sole to O-I Australia would commence in January 2019. \n\nO-I Australia's parent company Owens-Illinois, Inc. (O-I) is the world's leading glass container manufacturer and operates four manufacturing plants in Australia. \n\nCooper Energy Managing Director David Maxwell said the HoA marked another important milestone in the development of the Sole gas field to help meet Eastern Australia's gas demand, and that keen interest is being shown by industrial gas users and utilities in securing supply from Sole. \n\n"We expect to secure further agreements for the sale of gas from Sole over the remainder of the current calendar year, which will underwrite development of the field. It is expected that Sole will commence supplying gas from January 2019 and the field development will include a single vertical subsea well and pipeline to the Orbost Gas Plant which is connected to the Eastern Gas Pipeline.\n\nThe Sole gas field is located in VIC\/RL3, offshore Victoria approximately 62 km from the Orbost Gas Plant, onshore Victoria. The field has been assessed by Cooper Energy as containing a 2C contingent gas resource of 211 PJ1 (100 per cent joint venture volume) of which Cooper Energy's share is 105.5 PJ. \n\nDevelopment of Manta to supply gas to Eastern Australia has been identified as a commercial opportunity by the BMG (Basker Manta Gummy) Business Case study completed recently by Cooper Energy. Manta is located offshore Victoria approximately 57 km from the Orbost Gas Plant, \n\nThe field is assessed to have gross 2C of 106 PJ of sales gas and 2.6 MMbbl of condensate.\n\nThe Business Case outlined a commercialisation opportunity for Manta based around the supply of 23 PJ\/a from mid-2021. Cooper Energy holds a 65 per cent interest and is Operator of VIC\/L26, VIC\/L27 and VIC\/L28 which contains the Basker Manta Gummy gas and liquids resource.