Octanex NL
ASX:OXX ISIN:AU0000OXXAK5
Octanex N.L. (NSX:OCT) is an Australia-based company engaged in petroleum exploration and investment. The Company through its wholly-owned subsidiaries, holds working interests in 10 petroleum exploration permits and residual and royalty interests in a further three such permits, all situated in the offshore basins of Australia. Five of the permits in which interests are held by the Company are located in the Exmouth Sub-basin (WA-322-P, WA-329-P, WA-384-P, WA-385-P and WA-394-P), with a further four permits located on the Exmouth Plateau (WA-362-P, WA-363-P, WA-386-P and WA-387-P). Two of the permits are located in the Dampier Sub-basin (WA-323-P and WA-330-P), while the two remaining permits (EPP34 and Vic/P61) are located in the Otway Basin, offshore of South Australia and Victoria respectively. On March 9, 2009, the Company acquired Strata Resources Pty Ltd.
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News
The Directors of Oil Basins Limited (ASX:OBL) are pleased to make the following ASX announcement. Oil Basins Limited has advised Octanex N.L. (ASX:OXX) that, with the National Native Title Tribunal determination on 1 February 2013, OBL has successfully completed the first requirement of the farmin for a 25% interest in the Derby Block (after grant) to OXX as previously announced on 24 January 2013.
Australian Market Report of February 3, 2011 includes: Crusader Resources Limited (ASX:CAS) continue to extend the known mineralisation at the Borborema gold project in Brazil; WPG Resources Limited (ASX:WPG) is to establish a joint venture with Evergreen Energy Inc. (NYSE:EEE) to develop and commercialise K-Fuel technology throughout Australia; Xanadu Mines Limited (ASX:XAM) and Noble Group (SIN:N21) form a strategic alliance in Mongolia; Octanex N.L. (ASX:OXX) is to commence drilling operations offshore Western Australia.
The Australian sharemarket fell on Thursday as investors digested some mixed earnings results. Investors also managed to take profit for the market after two days gains. At the close, the benchmark S&P/ASX 200 index lost 13 points, or 0.28 per cent, to 4654.9, while the broader All Ordinaries index gave up 12.9 points, or 0.28 per cent to 4673.9.
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