Elixir revealed Monday it had agreed to buy AWE's stake in the producing Perth basin field for an initial upfront payment of A$1 million (US$723,809).
Under the deal, it will also pay AWE 25% of the net cash flow from the field when it generates more than A$3 million, net to Elixir, up to an aggregate cap of A$9 million over five years.
“This
