The pair entered agreements that will see Cooper acquiring a 30% interest in permits PEL 494 and PRL 32, while reducing its stake in the adjoining PEL 495 from 65% to 30%.
Cooper said Tuesday that the agreements would give it a greater spread of exposure in the South Australian portion of the Penola Trough in the Otway basin. Also, the two new permits will be added to Cooper’s portfolio at a zero net cost to the company.
“The
