UIL, Eneabba Extend Deadline to Complete Acquisition of Perth Basin Permits
UIL Energy, a junior exploration company in Australia, announced Monday that the completion date for the Sale of Shares Agreement (SSA) with Eneabba Gas Ltd. to acquire the latter's permit interests in the Perth Basin, Western Australia has been extended to Aug. 31, 2016.
"This extension has been necessary to allow for delays with Department of Mines and Petroleum (DMP) in the processing of the transfer of the Ocean Hill permit to Eneabba, being a precondition for completion of the salwe agreement with UIL Energy."
Eneabba Gas entered into the SSA in February for the sale of its exploration interests in the Perth Basin, including 100 percent of the Ocean Hill project and 50 percent interest in EP447 to UIL Energy.
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