CND 3.33% 2.9¢ condor energy limited

notice of force majeure

  1. 754 Posts.
    9 March 2011

    ASX Company Announcement Office

    Notice of Force Majeure

    Baraka Petroleum Ltd (Baraka or the Company) (ASX:BKP) wishes to advise that it has received a Force Majeure Notice from its joint venture partner and operator, PetroFrontier (Australia) Pty Ltd (PetroFrontier) (formerly Georgina Basin Energy Pty Ltd) pursuant to Clause 16 of the EP 127 Farm-in Agreement and Clause 14 of the EP 128 Farm-in Agreement in regards to PetroFrontiers activities on the Companys tenements in the Southern Georgina Basin in the Northern Territory.

    Baraka has a carried undivided 25% working interest up to completion of a minimum of 500 meters of horizontal drilling into the Basel Arthur Creek Shale on either EP 127 or EP 128. This zone commences at a depth of approximately 770 meters vertical depth on EP 127. Baraka also retains an undivided 75% working interest in approximately 75kms2 around the Elkedra-7 well on EP 127, where previous drilling has indicated oil shows.

    The Force Majeure period is continuing and will cease when conditions on the ground allow operations to continue. A copy of the notice is attached.

    END

    For further information please contact:

    Mr Collin Vost
    Managing Director
    Baraka Petroleum Ltd
    Tel: 08 6436 2350
    Em: [email protected]
 
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