Gulf Oil and Gas accountACCOUNT

Norwest Finalises Joint Venture for Xanadu TP/15 Permit

Source: www.gulfoilandgas.com 2/10/2017, Location: Not categorized

Norwest Energy NL ('Norwest') is delighted to announce it has entered agreements to achieve the full farm-out of its 160MMbbl 'Xanadu' TP/15 prospect. Norwest has executed a binding term-sheet whereby 3C Group IC Limited, through two of its wholly-owned subsidiaries (‘3C Group’), a Group incorporated in Guernsey will contribute 40% of the well costs to earn a 30% interest in TP/15. In addition, 3C Group will also have the right to participate inother wells in all the northern Perth Basin permits Norwest holds interests in on equivalent terms as the TP/15 farm-out.

The finalisation of this farm-out is considered an outstanding achievement for Norwest in the current market, and represents a major milestone for Norwest shareholders. Securing this funding for drilling costs has been pivotal in ensuring plans to drill this long-awaited well are finally realised.

Mergers and Acquisitions News in Australia >>

Australia >>  7/9/2020 - Worley has acquired Ferrovial’s 50% shareholding of TW Power Services Pty Ltd (TWPS) for a cash consideration of $20 million, increasing its stake to ...
United Kingdom >>  7/6/2020 - Summary
- The boards of directors of Viaro Energy and RockRose are pleased to announce that they have reached agreement on the terms of a recomm...


United States >>  7/5/2020 -  Berkshire Hathaway Energy, a subsidiary of Warren Buffett’s Berkshire Hathaway Inc., today announced it has executed a definitive agreement to acquir...
Brazil >>  7/3/2020 - Petrobras, in continuation of the communique released on May 15, 2020, informs the beginning of the binding phase regarding the sale of its remaining ...

Brazil >>  7/3/2020 - Petrobras has started the opportunity disclosure stage (teaser), regarding the sale of its wholly-owned subsidiary Petrobras Biocombustível S.A. (PBIO...
Germany >>  7/1/2020 - Rolf Martin Schmitz, CEO of RWE AG: "This is the day we have been working towards for two years. The new RWE has been completed. It is a new, bigger a...

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 


Australia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.