Baraka Renews Exploration Permit EP127 in Australia's Georgina Basin

Baraka Energy & Resources Ltd. reported Friday that they have accepted the offer of intent from the Northern Territory Department of Mines and Energy (DME) to renew prospective exploration permit EP127 in the Georgina Basin of the Northern Territory, Australia.

The process of having Statoil Australia Theta B.V. and PetroFrontier (Australia) Pty Ltd. withdraw from the permit, and transfer their interests in the permit to provide Baraka with a 100 percent equity position is currently underway.

Baraka is also finalizing the security deposit required by the DME, and transfer of responsibility for Native Title issues in accordance with the regulatory requirements on issue of final approval documentation.

When this process is finalized Baraka will make further announcements to the market.

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
Sr Counsel - Litigation and Legal Technology
Expertise: Legal
Location: The Woodlands, TX
 
GIS Intern Job
Expertise: Cartography / Mapping|Landman|Modeling
Location: Eau Claire, WI
 
Mechanical Quality Assurance (QA) Specialist
Expertise: QA / QC / Inspection|Regulatory Compliance
Location: Anchorage, AK
 
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