Norwest Energy Farms Into Perth Basin Block
Norwest Energy NL is has reached agreement with Black Rock Petroleum NL to acquire an 80% interest in Permit EP-419 in the Perth Basin. Located onshore, the permit is about 20 kilometers east of the Beharra Springs Gas Field. Under the terms of the agreement, Norwest Energy NL will assume the role of Operator.
Norwest will pay all the costs of reprocessing existing seismic data recorded within EP-419. The Deal is subject only to formal documentation and relevant Governmental approvals.
This deal adds to the Company's already extensive portfolio of Perth Basin acreage. While the permit is in the early stages of evaluation, Norwest believes it is a valuable addition with good potential.