IPB Petroleum Limited is an Australia-based oil and gas exploration company. The Company has an interest in a 100% owned WA-424-P petroleum exploration permits located in the Browse Basin. The Browse Basin is located north of Broome, offshore, Western Australia and covers an area of approximately 140,000 square kilometers (km2). The WA-424-P permit contains three wells, Gwydion-1, Caspar-1A and Pryderi-1. The Company’s subsidiaries include IPB WA 424P Pty Ltd and IPB Exploration Pty Ltd.