Trading Halt?, page-59

Hey Guys, (sorry if this has been posted, I did read through the comments & couldn't see it)

The AFR are reporting that CVN are Quadrants only partner now and that Quadrant have brought out JX Nippon in addition to Finder.

I'll post a snippet of the artical because I know some can't open AFR.


Privately owned Quadrant Energy has plunged deeper into oil exploration off Western Australia, striking deals to buy its partners Finder Exploration and JX Nippon out of permits in a little-explored region containing two promising discoveries.
The deals are understood to roughly double Quadrant's interests in the remote Bedout sub-Basin directly north from Port Hedland, but raises the question whether it will look to sell on some interests to bring in new partners.
As things stand, the buyout of privately owned Finder and the Japanese company leaves only junior Carnarvon Petroleum as Quadrant's minority partner, with an exploration well coming up at one of the fields later this year. Quadrant, a buyout of the former Apache Australia business, is now owned by Brookfield Infrastructure and Macquarie Capital, as well as other interests.
The deal to buy out Finder, which was advised by Miro Advisors, is one of the few farm-out deals concluded in Australia since oil prices started their dramatic decline.

The permits hold both the Phoenix South oil discovery made in 2014 and the 2015 Roc wet gas find made last year.
For Finder, the terms of the sale include a combination of success payments and a royalty. Finder's technical partner Fugro is entitled to half of the profits.


Read more: http://www.copyright link/street-ta...-on-wa-oil-hunt-20160504-golrl8#ixzz47kCR6kOD
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