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