Focus Oil farms in to offshore Philippines license

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.

05/04/2009

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