Bass Oil executed a sale and purchase agreement to acquire interest in a portfolio of Cooper Basin tenements from Cooper Energy back in July, including a 30 per cent interest in the Worrior oil and gas field.
Acquiring a suite of assets from Cooper Energy has provided the company instant production and substantial exploration opportunities.
Managing Director Tino Guglielmo commented back in August that the acquisition represented an important first step in the company’s strategy to acquire assets in the region and to becoming a leading player.
The completion of the transaction was dependent on satisfying a number of conditions, including funding the consideration payment and obtaining government approval.
Now that regulatory approval has been awarded, the company is pursuing final approvals and expects the transaction to be complete by mid October.
For more information visit the Bass Oil website.
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