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Key buys Perth basin permit from AWE

By  AOG Staff Saturday, 14 October 2017 22:43
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Key Petroleum has completed the acquisition of AWE’s 100% interest in production license L7, located in the onshore Perth basin in Australia. 

Commenting on the transaction, Key managing director Kane Marshall said, “Key is delighted to have executed this agreement to acquire L7, with a proven producible oil pool and material exploration upside which is consistent with our portfolio approach.

“Recently we have re-mapped the northern part of the Perth Basin and have not only identified prospectivity along trend from the Mount Horner oil Field, but also identified a much larger case for the undrilled Becos prospect down-dip from our current drillable Wye Knot prospect in EP437 and on trend from the Dongara Oil Field spills into the adjoining L7 permit.’

“This acquisition provides Key with not only flexibility to commercialize possible future discoveries in the EP437 and L7 areas but potentially revisit an area in L7 with no work program commitments where oil has been recovered from several wells but with little exploration activity for a number of years,” he added. 

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