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Strike Energy Ltd Sells Strike Energy Western Australia Pty Ltd

Wednesday, 17 Apr 2013 08:00pm EDT 

Strike Energy Ltd announced that it has entered into an agreement to sell its wholly owned subsidiary, Strike Energy Western Australia Pty Ltd (Strike WA), for a cash consideration of AUD 3.5 million to Torrens Energy Limited (ASX:TEY). Following the sale, Strike will continue to hold its 33.3% operated interest in WA-460-P, adjacent to WA-384-P where Shell is drilling the Palta 1 well. Approximately 18% of the 13.5Tcf Palta prospect is mapped to extend into WA-460-P. The completion of the sale is subject to Torrens completing due diligence and obtaining necessary shareholder and regulatory approvals, expected to be achieved by late June 2013. 

Latest Developments for Strike Energy Ltd

Company Quote

-0.01 -9.09%
24 Nov 2014