Roc agrees to sell WA permit

Roc Oil (WA) has agreed to sell its 20% interest in the WA-351-P permit in the Carnarvon basin offshore Western Australia to Woodside Energy.

Offshore staff

SYDNEY, Australia -- Roc Oil (WA) has agreed to sell its 20% interest in the WA-351-P permit in the Carnarvon basin offshore Western Australia to Woodside Energy.

The $15.75-million transaction is subject to working capital adjustments, joint venture, and relevant government approvals.

Earlier this week Tap Oil subsidiary Tap (Shelfal), another member of the joint venture, said it would exercise its rights of pre-emption on the same terms and conditions as the sale to Woodside.

01/20/2011

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