Transfer of 7.5% Interest of VIC/P41 Gippsland Basin to OBL
Melbourne, June 15, 2012 AEST (ABN Newswire) - The Directors of Oil Basins Limited (
ASX:OBL) are pleased to make the following ASX announcement as a matter of record so as to keep the market fully informed.
Earlier this month the Company reached formal agreement with Strategic Energy Resources Limited (ASX code SER) for the transfer and assignment of 7.5% of offshore permit Vic/P41 situated in offshore Gippsland Basin, Victoria.
This assignment has yesterday been approved by all Joint Venture parties and following regulatory approval, the ownership of the Vic/P41 Joint Venture will become:
Bass Strait Oil Company Ltd (ASX:BAS) - 45% and Operator
Moby Oil & Gas Limited (ASX:MOG) - 25%
Strategic Energy Resources Limited (ASX:SER) - 17.5%
Oil Basins Limited (ASX:OBL) - 12.5%
Over-riding Royalties - Nil
Contact
Oil Basins Limited
T: +61-3-9692-7222
F: +61-3-9529-8057
WWW: www.oilbasins.com.au
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