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6/13/2011 - SANTOS FARMS INTO TWO CARNERVON BASIN PERMITS |
| Santos acquired a 75% interest in the Carnarvon Basin permits WA-323-P and WA-330-P that host Winchester, a large prospect which has a geological setting similar to the recent Zola gas discovery. The farm-in agreement with Octanex N.L is conditional on various regulatory approvals including renewal of the permits, which have now all been received.
Santos Vice President WA & NT, John Anderson, said Winchester presented a significant growth opportunity for Santos in Western Australia, and planning is underway for a 3D seismic survey later this year.
Under the farm-in, Octanex will be free-carried in respect of its 25% interest through the 3D survey, the first well and other exploration costs, except for any follow-up wells. |
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