Bass Strait Oil Co. Ltd. and Inland Oil Resources Pty. Ltd. elected to farm in on PEP 150 and PEP 151 offshore Australia, says Essential Petroleum Resources Ltd.
Offshore staff
MELBOURNE, Australia -- Bass Strait Oil Co. Ltd. and Inland Oil Resources Pty. Ltd. elected to farm in on PEP 150 and PEP 151 offshore Australia, says Essential Petroleum Resources Ltd.
Bass and IOR earn the farm-in by participation in drilling Pritchard-1 in PEP 151. That leaves EPR as operator with 50%, and Bass and IOR with 25% each.
In PEP 150, Bass and IOR will earn 15% each by participation in the drilling of another well. Beach Petroleum Ltd., operator, will hold 50%, EPR 20%, and Bass and IOR 15% each.
