Advance CEO Leslie Peterkin
Advance Energy eyes expansion opportunities
Quality oil assets can still attract funding and interest even amid the current ESG environment, says Advance CEO
Timor-Leste’s Buffalo field is a “barn burner of an opportunity” says Leslie Peterkin, CEO of UK-headquartered Advance Energy, which recently farmed into the licence. Advance bought 50pc of the decommissioned Timorese oilfield from Australian independent Carnarvon Petroleum and agreed to put up to $20mn towards appraisal drilling works. The company was able to raise funds for the move at a challenging time for the wider oil sector as it “has a very different risk profile” to other companies, Peterkin explains to Petroleum Economist. Buffalo fit the company’s four main criteria for an asset of interest, which also partly explain why Advance is less exposed to risk than other upstream firms.
Also in this section
19 March 2026
The regional crisis highlights the undervalued role of fixed pipelines in the age of tanker flexibility
18 March 2026
Rising LNG exports and AI-driven power demand have raised concerns that US gas prices could climb sharply, but analysts say abundant shale supply and continued productivity gains should keep Henry Hub within a range that preserves the competitiveness of US LNG
18 March 2026
Risks of shortages in oil products may cause world leaders to panic and make mistakes instead of letting the market do what it does best
17 March 2026
The crisis in the Middle East has put LNG’s ability to offer security and flexibility under uncomfortable scrutiny
