Focus Oil farms in to offshore Philippines license
May 4, 2009
Yilgarn Petroleum Philippines has executed a formal farm-out agreement with Focus Oil and Gas SC54.
Offshore staff
SUBIACO, Australia -- Yilgarn Petroleum Philippines has executed a formal farm-out agreement with Focus Oil and Gas SC54. Under the agreement, Focus will pay Yilgarn Petroleum $7 million and fund the next $6 million of Yilgarn Petroleum's share of the Service Contract (SC) 54A work program. Focus will gain a 17% interest in the inboard portion of SC 54.
