NORWEST ENER GY NL ASX Announcement 11th January 2007
Indian media announces that Bharat Petroleum Corporation (BPCL) has entered into agreements with Norwest on three offshore oil blocks
Over the last few weeks the Indian media has reported that BPCL has entered into agreements with Norwest Energy in respect of BPCL acquiring interests in North Sea Blocks 48/1b and 2c and the Timor Sea AC/P32 permit.
Norwest Energy advises that it has not entered into any formal agreements with BPCL at this stage, although it is able to confirm that negotiations are in progress with BPCL in respect to both projects.
Any agreement that is reached with BPCL will be subject to the acceptance of other joint venture partners in the projects as well as any regulatory authorities.
As soon as Norwest has executed formal agreements with BPCL it will advise accordingly.
For further information contact Mr. Joe Salomon Telephone: +61 8 9227 3240 Email: [email protected]
NWE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
