Transfer of 7.5% Interest of VIC/P41 to Oil Basins Limited (ASX:OBL) Complete

Melbourne, July 18, 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.

On 17 July 2012 the Company was advised that the regulatory approval has been received and the transfer from Strategic Energy Resources Limited (ASX:SER) of a direct 7.5% interest in Vic/P41 to OBL is now complete.

OWNERSHIP

The Vic/P41 Joint Venture now consists of:

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