Oil Basins Gets NOPTA's Approval to Acquire 25% Stake in Permit Vic/P47

Australia's Oil Basins Ltd. (OBL) announced Thursday that further to the Australian Securities Exchange (ASX) Release dated May 14, the company wishes to advise that it has attained approval and registration by the National Offshore Petroleum Titles Administrator (NOPTA) for the acquisition and transfer of a 25 percent interest in Vic/P47, including the Moby Gas Field Location, offshore Gippsland, Australia to the OBL Group.

NOPTA has approved that the transfer of the 25 percent interest in Vic/P47 be equally divided between OBL and OBL's wholly owned subsidiary Shelf Oil Pty Ltd.

OBL will issue Strategic Energy Resources Limited 6.0 million new OBL ordinary shares at $0.0188 (AUD 0.02) per share to finalize this transaction.

The Vic/P47 Joint Venture Participants will become:

  • Seaquest Petroleum Pty Ltd. - 40.00 percent and Operator
  • Enegex N.L.* - 19.25 percent
  • Moby Oil & Gas Ltd. - 15.75 percent
  • Oil Basins Ltd. - 12.50 percent
  • Shelf Oil Pty Ltd. - 12.50 percent

* subject to NOPTA approval and registration

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Executive Director
Expertise: Business Development|Executive|Project Management
Location: Houston, TX
 
Associate Product Portfolio Manager Job
Expertise: Business Development|Marketing|Sales
Location: Denver, CO
 
Sr Counsel - Litigation and Legal Technology
Expertise: Legal
Location: The Woodlands, TX
 
search for more jobs

Brent Crude Oil : $54.33/BBL 0.81%
Light Crude Oil : $51.5/BBL 1.29%
Natural Gas : $3.75/MMBtu 1.35%
Updated in last 24 hours