Bass Strait Oil Company Ltd has updated its market in relation to the Farmin Agreement. It also announced that the decision has made on how to handle the interests of Gippsland Basin permits Vic/P41 and Vic/P68 to Cooper Energy Limited. A number of factors, including Joint Venture approval and Government approval for Vic/P41 and Government approval of the operation of Vic/P68, can only the Famin Agreement  agreed.      

 

Following the lapse of pre-emption rights held by Oil Basins Limited and Strategic Energy Limited in Vic/P41, the Deed of Assumption is being in the last stage and is waited for the Joint Venture parities for agreement. After receiving approval from the Joint Venture parties, it will get the government’s approval.

 

After the Farmin Agreement has done this procedures, It has to meet the requirements under the Corporations Act and Australian Securities Exchange Listing Rules for transactions of this nature.

 

Bass Strait Oil Company will keep reporting the progress with Farmin Agreements when it is appropriate for him.