Cue and BHP Increase Interest in Carnarvon Basin Permit WA-389-P
Source: www.gulfoilandgas.com 7/5/2013, Location: Not categorized
Cue Energy Resources is pleased to announce that subject to the necessary regulatory approvals, it has agreed to increase its interest from 35% to 40% in WA-389-P in the Carnarvon Basin, Western Australia.
Cue has increased its participating interest as it sees significant remaining hydrocarbon potential in WA-389-P. The permit is already substantially covered by 3D seismic which will underpin continuing exploration of the block.
BHP Billiton (Australia) Pty Ltd has also agreed to increase its interest to 60% in the permit and assume operatorship, subject also to the necessary regulatory approvals. An application to renew WA-389-P will be submitted to NOPTA prior to the end of July this year.