Share
91 Posts.
lightbulb Created with Sketch. 12
clock Created with Sketch. 08/05/18
11:52
Share
Originally posted by etherazer
↑
Forget your "too much spin" drama; I deal in facts.Subsequent Events extract from the Beach Quarterly to which I refer you below.Beach Energy Limited | Quarterly Report for the period ended 31 March 2018 Page 15 of 16 Subsequent Events Agreement with Senex to transfer free-carry commitment to Western Flank oil assets Beach and Senex have reached agreement to transfer the remaining free-carry commitment on the joint venture’s unconventional gas project to the Senex operated Cooper Basin Western Flank oil assets. Beach’s recent acquisition of Lattice included the commitment to free-carry Senex for up to $43 million of investment, exploring for unconventional gas in the Cooper Basin. After negotiations with Senex, it has been agreed to transfer the commitment of up to $43 million to lower-risk, expected higher-return oil opportunities in Western Flank permits ex PEL 104 and ex PEL 111 (Senex 60% and operator, Beach 40%). The joint venture will commence an agreed work program in early FY19 that includes at least three horizontal development wells and seven exploration wells, and associated infrastructure, over approximately 18 months. The former Lattice, earned interest in the unconventional gas acreage will revert to Senex in full, subject to pre-emptive rights.
Expand
Etherazer,
