Beach has signed a binding agreement to take AGL's 40% operated stake in ATP 1056 for A$1.15 million (US$853,801).
Following the completion of the deal, which is still subject to government and joint venture approvals, Beach will hold an initial 20% interest in the permit with the ability to acquire a further 20% by meeting farm‐in obligations assumed from AGL.
“Beach has a long history of successful exploration within the Cooper basin, and we look forward to working with our joint venture partners on this highly prospective permit,” Beach managing director Rob Cole said.
“This
