Oil and gas exploration company Sentry Petroleum Ltd. has signed a conditional agreement to acquire Authorities to Prospect #862, #864 and #866 and rights to all conventional oil and gas deposits giving the company an unprecedented land position in the commercially proven Adavale Basin in Australia.
If regulatory approval of the acquisition is obtained, Sentry Petroleum will become one of the largest net onshore acreage holders in Australia. Dr. Rajeswaran commented, "We have assembled a very good exploration, production and development team. It will take our combined efforts to realize the potential that Sentry represents. Alan Hart will be instrumental in key exploration activities in the Adavale Basin and especially with the Sherwood Park Project."
The company advises that the acquisition is subject to regulatory approval and that Alan Hart will assume the responsibilities associated with the autumn exploration program and Dr. Rajeswaran will assume the responsibilities of Chief Executive Officer.
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