Scandoil  

Rey Resources acquires 50% interest in the Derby Block


Published Dec 2, 2014
Rey Resources Limited-2

Rey Resources Limited’s subsidiary company Rey Lennard Shelf Pty Ltd (RLS) has entered into an agreement with Backreef Oil Pty Ltd (Backreef) to acquire a 50% interest in petroleum exploration licence EP487, the “Derby Block”, located in the Canning Basin of Western Australia (the “Agreement”) subject to certain terms and conditions.

The Derby Block is a large exploration licence of approximately 5,000 km2 that was recently granted to Backreef (50%) and Oil Basins Ltd (Oil Basins) (50%). It occurs to the north of Rey’s existing interests in petroleum exploration licences in the Canning Basin (refer Figure 1). The Company considers EP487 to be prospective for hydrocarbons and looks forward to working with Oil Basins to develop the Derby Block.

Tags: Rey Resources Limited




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml