Eneabba Gas Seals Deal for 50% Interest in Permit EP 447 in Perth Basin

Greepower Energy Ltd., a clean energy technology developer in Australia, confirmed Tuesday that Eneabba Gas Ltd. has executed and completed a Sales and Purchase Agreement for the acquisition of its subsidiary GCC Methane Pty Ltd., which holds a 50 percent stake in permit EP447, Perth Basin, Western Australia. Eneabba has also executed a Royalty Deed to give effect to the royalty right to 1.5 percent of the GCC's net petroleum production from EP447, including the legacy Walyerling Gas Field.

"This transaction enables Greenpower to focus on developing its major coal conversion project in Victoria's Latrobe Valley," the company said in a press release.

Eneabba, which has earlier paid $22,902 (AUD 30,000) non-refundable option payment for the 45-day exclusive period for it to carry its due diligence on Permit EP447, paid a further $625,906 (AUD 820,000) to Greenpower for 100 percent of the issued capital of and Greenpower's claims on GCC.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

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

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Petrofac Suspends Group Chief Operatin... (May 25)
 -  EnQuest On Track For Kraken First Oil ... (May 25)
 -  Energean Signs Lease Agreement for Exp... (May 25)
 -  Seadrill CEO Praises Workforce (May 24)
 -  Serinus Shuts-In Sabria Field Due to S... (May 23)


Most Popular Articles

From the Career Center
Jobs that may interest you
Senior Land Professional Job
Expertise: Landman|Lease Analyst
Location: Oklahoma City, OK
 
Surface Land Professional Job
Expertise: Landman|Lease Analyst
Location: San Antonio, TX
 
Automation Systems Analyst II
Expertise: Business Development
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours