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Perth, Sep 6, 2010 (ABN Newswire) - Beach Energy Limited (
ASX:BPT) (PINK:BEPTF) has received a A$43.2 million contingent payment from Arrow Energy (ASX:AOE) in relation to the sale of the Tipton West assets.
This now brings the total funds realised from the Tipton West transaction to A$383.3 million. In addition, Beach may receive further contingent payments up to A$26.8 million.
Beach's already strong financial position has been further enhanced by this latest payment, taking cash on hand to approximately A$200 million.
ASX:BPT) (PINK:BEPTF) has received a A$43.2 million contingent payment from Arrow Energy (ASX:AOE) in relation to the sale of the Tipton West assets.This now brings the total funds realised from the Tipton West transaction to A$383.3 million. In addition, Beach may receive further contingent payments up to A$26.8 million.
Beach's already strong financial position has been further enhanced by this latest payment, taking cash on hand to approximately A$200 million.
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About Beach Energy Limited
Beach Energy Limited (ASX:BPT) is a long established oil and gas Exploration and Production Company, based in Adelaide, South Australia.
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