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Tuesday, 07 October, 2008, 15:00 GMT | more prices >>

Stuart confirms Cooper farm-in



By Upstream staff 

Australia’s Stuart Petroleum said today it had reached agreement with the joint venture partners at Block PEL 100 in South Australia’s Cooper basin to earn a 50% interest by drilling and evaluating one well.

Drilling is expected to begin within the next four months, Stuart said.

On completion of the farm-in agreement, Stuart will become operator of the permit.

At that time, the remaining stakes will be held by Sundance Energy (23.33%), Cooper Energy (19.17%), Traditional Oil Exploration (5%) and Liberty Petroleum (2.5%).


Wednesday, 09 May, 2007, 02:27 GMT  | last updated: Wednesday, 09 May, 2007, 02:27 GMT

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