LGO longreach oil limited

lgo interest in epe ep18 yellowbank creek

  1. MJR
    1,085 Posts.
    I understand from conversations today with LGO's secretary Mr Peter Heatherton that:

    Delbaere Associates P/L is owned by Brisbane petroleum. Accordingly Delbaere hold a 25% interest and Brisbane Pertoleum hold a 25% interest in EPE's yellowbank creek PL18 well.

    This is where the they are getting the 50% interest owned by Brisbane Petroleum from as per press release below:
    -----------------------------------------------------
    28 October 2004
    e-Lodgement
    FOR PUBLIC RELEASE
    Manager - Company Announcements
    Australian Stock Exchange Limited
    20 Bridge Street
    Sydney NSW 2000

    Dear Madam
    Re Drilling of Yellowbank Creek No. 4 Well This is to advise that a well was spudded in PL18 (Petroleum Lease No.18) in the Surat Basin, Queensland.

    The well is being drilled by Enterprise Energy Ltd on a farm-in with Brisbane Petroleum N L.

    Brisbane Petroleum N L is an unlisted public company, which holds a 50% interest in PL18.

    Longreach Oil has recently increased its interest in Brisbane Petroleum N L from 19% to 22%.

    For and on behalf of
    Longreach Oil Limited
    B Ganke
    -ar/978.108
    -----------------------------------------------------

    Accordingly LGO's % is 22% of the 50% Brisbane Petroleum receives as stated to the market.

 
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Currently unlisted public company.

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