Origin Energy Exercises Claim on the Yolla Gas Field
Australian Worldwide Exploration
|Tuesday, October 23, 2001
Australian Worldwide Exploration reports that Origin Energy Resources had exercised its option to take half of an additional 14% stake AWE has agreed to acquire in the Yolla gas/condensate field off southern Australia. AWE announced on earlier this month that it would purchase the 14% stake in the T/RL1 lease that contains Yolla from Australia's Cue Energy Resources for A$6.7-mil ($3.4-mil). The option is subject to a mutually acceptable sales and purchase agreement being reached by AWE and Origin and regulatory approvals.