Brief: 3D Oil Ltd Says Conocophillips Australia Sh2 Pty Executed A Farmout Agreement

3D Energi

01/07/2022 02:09

July 1 (Reuters) - Conocophillips  COP.N :
    * CONOCOPHILLIPS AUSTRALIA SH2 PTY EXECUTED A FARMOUT
AGREEMENT
    * FOA IN RELATION TO OFFSHORE VICTORIAN EXPLORATION PERMIT
VIC/P79
    * UNDER TERMS OF FOA, CONOCOPHILLIPS AUSTRALIA WILL ACQUIRE
80%
STAKE IN PERMIT & OPERATORSHIP IN EXCHANGE FOR AN UPFRONT
PAYMENT OF $3 MILLION
    * CO WILL BE CARRIED FOR UP TO USD$35 MLN IN WELL COSTS

Source text for Eikon:  ID:nASX8DbKyd 
Further company coverage:  COP.N 

 ((Reuters.Briefs@thomsonreuters.com;))