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Orca Energy Completes Sale of Cooper Basin Assets to Senex Energy

Source: www.gulfoilandgas.com 5/19/2015, Location: Not categorized

Orca Energy has advised that it has completed the sale of its Cooper Basin assets to Senex Energy. Orca received the balance amount of $1,400,000 from Senex afternoon. In total, the Company received just over AUD$2,000,000 for the sale of PPL 251, PRL 117 and PEL 110 (together the Cooper Basin Assets.

As the sale was one of the conditions precedent to the recently announced Subscription Agreement with Bentley Resources and Trepang Services, the Company now only requires a General Meeting of shareholders to approve the transaction. The meeting is expected to be convened in late June and shareholders will be advised once the Notice of Meeting has been dispatched.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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