Sasol Petroleum Australia farms into Browse basin permit

Sasol Petroleum Australia has signed a farm-in agreement with Finder Exploration to earn a 45% interest in exploration permit AC/P 52 in the Browse basin.

Offshore staff

PERTH, Australia -- Sasol Petroleum Australia has signed a farm-in agreement with Finder Exploration to earn a 45% interest in exploration permit AC/P 52 in the Browse basin.

In 2010, the companies will acquire and interpret 500 sq km (193 sq mi) of 3D data over the permit area in order to mature a drill-ready target.

“We are very encouraged and excited to be joining forces with Sasol in AC/P 52,” says Jan Ostby, Finder's MD. “To date we have identified several key prospects and leads, including the large multi-tcf size ‘Cronus’ gas prospect, and we are pleased that Sasol has chosen to join us and recognizes the prospectivity of this exploration acreage.”

01/13/2010

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