Eneabba Gas Limited has signed a farm-in agreement with Finder No 6 Pty Ltd covering the Ocean Hill Block (STP EPA 0090) located in the North Perth Basin, Western Australia. Finder is a wholly owned subsidiary of the successful private West Australian based oil and gas explorer Finder Exploration Pty Ltd.

Under the agreement, subject to the satisfaction of several conditions precedent as to native title, permit award and funding, Finder has agreed to fund a two stage work program totalling up to $15 million at the Ocean Hill Project to earn an 85% interest in the Ocean Hill Project. In addition Eneabba is required to vary the conditions of the permit award to match the agreed work program.

Tags: Eneabba Gas Limited, Finder Exploration Pty Ltd