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ExxonMobil signs farm-in agreement with Ignite Energy


Published Jun 8, 2012
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ExxonMobil reports $1.1 billion Turrum Field development

Esso Ventures Pty Ltd an affiliate of ExxonMobil Australia Pty Ltd has signed an agreement to take an initial 10% beneficial interest in EL4416, currently held 100% by Ignite Energy Resources Limited (IER). EL4416 is an onshore exploration licence in the Gippsland Basin of south-east Victoria.

Over the next 12-18 months ExxonMobil and IER will work together to evaluate and assess the natural gas potential in the deeper coal seams of the licence and determine whether it can be commercially produced. IER will be the operator for the preliminary assessment phase.

Tags: ExxonMobil




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