The pair signed a non-binding agreement in December last year for the farm-out of blocks WA-442-P, located offshore Western Australia, and NT-P81, off the Northern Territory.
In May, Tangiers approved the final terms of the deal, which would have seen CWH acquire a 70% interest in both blocks, in exchange for funding all costs associated with seismic work, drill planning and exploration drilling within the permits, at a capped amount of A$35 million (US$32.98
