November 15, 2017 / 2:34 PM / a month ago

Oil explorer Finder seeks $150 mln for Australia drilling

LONDON, Nov 15 (Reuters) - Australia-focused oil and gas explorer Finder Exploration is seeking to raise $150 million for the drilling of five wells off the country’s northwest coast, a document seen by Reuters showed.

The wells could hold as much as 600 million barrels of oil and gas equivalent, the privately owned company said in a presentation to potential investors.

Finder, a joint venture with energy services company Fugro , hopes to start drilling in the third quarter of 2018.

The exploration blocks are adjacent to the Browse basin and Northern Carnarvon basin, where a number of large oil companies including Exxon Mobil and Royal Dutch Shell operate.

Reporting by Ron Bousso; Editing by Dale Hudson

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