Perth-based Torrens Energy said on Thursday it had entered a binding letter of agreement to acquire Strike Energy Western Australia for a cash consideration of A$3.5 million (US$3.6 million).
Strike Energy WA holds varying interests in shallow offshore and onshore exploration permits in the north west of the state, with prospectivity for both oil and gas. These include 61.54% operating interests in both EP110 and EP 424, a 44.5%
