The Foreign Investment Review Board has notified its approval of the sale of Stuart's interest in Timor Sea petroleum exploration permit AC/P33 to PTTEP Australasia (Ashmore Cartier) Pty Ltd.
All conditions pertaining to this sale are now satisfied and as a consequence settlement on the sale will occur and:
Stuart's Managing Director, Tino Guglielmo, welcomed the Foreign Investment Review Board advice: "Stuart has done well to take a position in the Timor Sea and to use its technical capabilities to add value and pass the project on at a profit. Our position in the Cooper/Eromanga Basin has been much strengthened with the recent award of acreage from the South Australian Government and the
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