More acquisitions of Canning Basin acreage on good terms, 4...

More acquisitions of Canning Basin acreage on good terms, 4 permits, 75%-100% interest.

Commenting on the acquisitions, ARC Managing Director, Eric Streitberg, said:
“These deals further consolidate ARC’s dominant position in the onshore Canning Basin, and are in line with the
Company’s strategy of acquiring acreage in all the prospective regions of the Basin prior to the commencement
of the drilling program. The western part of the Basin has been very sp*rsely explored but significant oil and
gas shows have been seen, particularly around the Admiral Bay Fault Zone where rich source rocks have very significant oil and gas generation potential.
We are now close to finalising the acquisition of the areas we believe are relevant to our exploration program
and are now identifying and mapping some very large targets for our upcoming drilling program.”