Pilot revealed on Wednesday it had executed an agreement with Murphy’s Australian subsidiary which will see it take over the WA-481-P permit in exchange for paying Murphy a net profits interest on any future production from the acreage.
The permit is nearing the end of its primary term and Pilot said it anticipates formally entering the permit at the start of the secondary term next month, the first year of which which carries a work commitment to complete A$300,000 (US$ 224,025) of geological and geophysical studies.
The
