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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. 

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24 Nov 2014