Option Exercise for 20% Backreef Area and Receipt of $2.5M
Melbourne, May 1, 2012 AEST (ABN Newswire) - The directors of Oil Basins Limited (
ASX:OBL) are pleased to make the following ASX Announcement.
Green Rock Energy Limited (ASX:GRK) has exercised its option to acquire a 20% beneficial interest in the Backreef Area, Canning Basin through acquisition of an OBL subsidiary, in accordance with a Share Sale Agreement that has been executed by the parties.
The payment of $2,500,000 has been received by OBL from GRK.
Contact
Oil Basins Limited
T: +61-3-9692-7222
F: +61-3-9529-8057
WWW: www.oilbasins.com.au
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