Somerton Energy Limited, formerly Essential Petroleum Resources Limited, is an Australia-based company engaged in exploration for oil and gas accumulations. The Company is focused on unlocking the potential of the Otway Basin, onshore and offshore, in southeastern Australia. The Company's Otway Basin onshore activities are aimed at making commercial oil and gas discoveries to help fund the opportunities offshore. There are three main points in the Company's focus on the offshore Otway Basin, where the Company holds a 25% interest in VIC/P46 and a 100% interest in VIC/P50. During the fiscal year ended June 30, 2011, the Company acquired interests in Otway Basin tenements PELs 186 and 495, submitted a successful bid for PEP 171 and agreed to farmin to PRL 2 (Gippsland Basin). The Company has a wholly owned subsidiary, Essential Petroleum Exploration Pty Limited. As of June 6, 2012, Cooper Energy Limited had 90.154% of interest in Somerton Energy Limited.