Roc said it would receive a A$1 million (US$924,959) upfront cash payment followed by a A$5 million contingent contingent consideration, subject to first hydrocarbons from a commercial development.
Cooper will take over operatorship and all of Roc’s remaining liabilities at BMG, which the latter said would result in a reversal of its abandonment obligation with a resulting profit of roughly US$32 million.
“With
