Rawson Resources Limited has signed a Sales Purchase Agreement (SPA) with Adelaide Energy Pty Ltd (subsidiary of Beach Energy Limited) to purchase 100% of the PRL13, which includes the Killanoola Oil Field, in the western Otway Basin, South Australia.
The total consideration of $600,000 includes the permit & mining information and production equipment. The equipment includes the existing production equipment at the Killanoola-1 DW-1 well site comprising a 1,000 barrel storage tank, rod pump and down-hole rod string. The purchase is conditional on regulatory approval.
The Killanoola Oil Field is located approximately 25 kilometers northwest of the Katnook Gas Fields. The field was discovered in 1998 by the Killanoola-1 well.