BPH Energy Limited announced that letter of intent has been issued by Advent Energy, through its' subsidiary Asset Energy, to Oil States Industries (Asia) Pte Ltd. for the provision of Conductor and Surface Casing & associated services for the planned Seablue-1 exploration well. The well is planned to be drilled in 125m of water approximately 26km offshore and 30km SSE of the City of Newcastle. The drilling of the well is subject to funding and regulatory approvals and is expected to take around 40 days to reach total depth. The well has two objectives; a gas target and evaluation for Carbon Capture Storage, subject to funding.