PTTEP said it priced the acquisition, which includes $243 million of Coogee debt, at $12.90 per barrel of Coogee's proven reserves of 32 million barrels of oil.
Bangkok-based PTTEP said Coogee's proven and probable oil reserves were 45 million barrels, while Coogee also has“significant contingent resources”from its interests in blocks AC/L7, AC/RL7, AC/P32, AC/P34 and AC/P40.
Coogee's only producing asset is a 71% operating interest in the mature Jabiru-Challis offshore oilfields, where gross output in the first nine months of 2008 averaged about 4000 barrels per day of oil.
Coogee
