Farm-out of WA 226P
June 26 2002 - 7:31AM
UK Regulatory
RNS Number:7823X
Black Rock Oil & Gas PLC
26 June 2002
FARM-OUT OF WA 226P BY ORIGIN ENERGY
Black Rock Oil & Gas PLC, ("Black Rock") advises that Origin Energy, a fellow
participant in the licence WA 226P in the Offshore Perth Basin, Western
Australia with Black Rock made the following announcement to the Australian
Stock Exchange today. Origin Energy has reached agreement with Apache Energy
Limited for a subsidiary of Apache to earn an undivided 28.75% interest in WA
226P from Origin Energy. Under the terms of the farm-in, Apache will manage the
drilling of the Morangie 1 well, scheduled in October 2002, as agent on behalf
of Origin. Origin Energy will remain operator of the permit.
WA 226P is located in the northern offshore Perth Basin, approximately 230km
north west of Geraldton, Western Australia. The Morangie 1 well will test an
undrilled prospect interpreted to have the potential to contain up to 250
million barrels of oil in place. Permian sandstones below the Triassic regional
seal provide the main reservoir objective.
Several follow up structures are also present in WA 226P. These will be
evaluated following the drilling of Morangie.
Participants in WA 226P following the farm-in and necessary government approvals
will be as follows:
Origin Energy Developments Pty Limited* 28.8% (Operator)
Apache Northwest Pty Ltd*** 28.8%
Dana Petroleum (E&P) Limited** 12.8%
Dana Petroleum (WA) LLC** 12.7%
Black Rock Petroleum NL**** 7.5%
Voyager Energy Limited 5.0%
Planet Resources Limited** 4.5%
* a wholly owned subsidiary of Origin Energy Limited
** wholly owned subsidiaries of Dana Petroleum plc
*** a wholly owned subsidiary of Apache Energy Limited which is a
subsidiary of Apache Corporation, an independent oil and gas production company
listed on Nasdaq
**** a wholly owned subsidiary of Black Rock Oil & Gas PLC
For further information contact:
David Steinepreis, Chairman, Perth, Western Australia
Phone: 61 8 9481 2407 Email: dsteinepreis@abanet.com.au
John Scott, Managing Director, Perth, Western Australia
Phone: 61 8 9226 3575 Email: blkrock@highway1.com.au
Julian Riddick, Director, London
Phone: 020 7629 7237 Email: julian@jgr.demon.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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