From iHub:
These permits are in Australia.
Key Petroleum (ASX:KEY) has executed a sales agreement to acquire interests in three oil and gas licences in the Canning Basin, Western Australia.
The company is acquiring Pancontinental Oil and Gas (ASXCL) and FAR Limited’s (ASX:FAR) interests in Exploration Permit 104, Retention Lease R1 and Production Licence L15.
This will increase Key’s interest in EP 104 to 89.23%, L15 to 85.4% and R1 to 85.23%.
Key will assume all rights, obligations and liabilities associated with the assignment of their interests in the three permits.
In addition, Pancontinental and FAR have agreed to pay the company $50,000 cash each.
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