Highlights:
- Notice of Regulatory approval received for Ophir Energy to farm-in to 75% of WHL Energy’s Seychelles Project interest;
- Seychelles Government extends existing Petroleum Agreement to allow for new Petroleum Agreement to be executed;
- Finalisation of Joint Operating Agreement expected within weeks;
- WHL Energy to initially receive US$4 million of past costs;
- Tenders received for Ophir funded and operated, 1,500km2 3D seismic survey.
Australian energy company WHL Energy Limited
(ASX:WHN) (“WHL Energy” or “the Company”) is pleased to announce it has received notice that regulatory approvals will be granted for the previously reported* farm-out agreement with Ophir Energy plc (“Ophir”). Under the agreement Ophir is farming-in to earn a 75% interest in WHL Energy’s offshore Seychelles petroleum exploration project area.
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