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 (ASX:PCL) 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.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.
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5.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $1.725M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10000 | 5.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.8¢ | 8000 | 1 |
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