Perth, April 10, 2008 AEST (ABN Newswire) - On 29 February Beach Petroleum (ASX: BPT)(PNK: BEPTF) announced the sale of a 10% interest in the Basker-Manta-Gummy (BMG) joint venture in Bass Strait to Sojitz Energy Australia Pty Ltd, a wholly owned Australian incorporated company of Sojitz Corporation of Japan, for a total of $A123 million.
All material conditions precedent in relation to the sale have been satisfied and completion is planned for late April.
Following completion the transaction will remain subject to approval by the Designated Authority.
Contact
Reg Nelson
Beach Petroleum
+61-8-8338-2833
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