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Bass Strait increases interest in Gippsland permit Vic/P41


Published Apr 24, 2013
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Bass Strait Oil Company Ltd

Bass Strait Oil Company Ltd has increased its participating interest in the exploration permit Vic/P41 in the offshore Gippsland Basin.

On 21 March 2013 Moby Oil and Gas Limited announced it had negotiated final terms on which to dispose of its 25% interest in the joint venture and the permit to Oil Basins Limited for a nominal sum.

BAS has subsequently exercised its pre-emptive rights in relation to Moby's interests also for a nominal sum. BAS will continue to operate the joint venture and permit and will now have an interest of 64.565%. This assignment has been approved by all Joint Venture parties.

Tags: Bass Strait Oil Company



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