Rouge Rock sells exploration permit offshore Australia

Offshore staff

MELBOURNE, Australia – Subsidiaries of Santos and SapuraOMV have acquired the AC/P50 permit offshore northwest Australia from Rouge Rock.

In 2018 Melbana Energy sold its 55% interests in this permit and AC/P51 offshore the Ashmore and Cartier Islands to Rouge Rock, with the terms including an upfront cash payment of around $397,000 and a 10% share of any future royalty Rouge Rock would receive for production from this permit area during a defined period.

The new purchasers have also negotiated the right to acquire AC/P51.

5/7/2021