Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
My blog:
  • Key Petroleum Increasing Interests In Canning Basin Oil And Gas Permits 0 comments
    Jul 29, 2013 1:55 AM

    Key Petroleum (ASX: KEY) is increasing its interests in two onshore Canning Basin oil and gas permits from Emerald Oil and Gas (ASX: EMR) for $50,000 in cash and 4 million Key shares.

    This will give the company an additional 24.98% interest in Exploration Permit 104 and a 14.17% stake in Retention Lease 1 within the Lennard North Province.

    Following the acquisition, which is conditional upon standard approval by the Western Australia Department of Mines and Petroleum, Key will have a 41.42% interest in EP104 and 30.61% stake in R1.

    Lennard Shelf

    The Lennard Shelf is separated from the prospective Fitzroy Trough by the Pinnacle Fault System.

    It contains gas in low stand deltaic sands in the Lower Anderson Formation extending from Stokes Bay-1 to Point Torment -1 in R1 and south-east to West Kora-1 and Kora-1 in L15 immediately to the east.

    Up to 150 billion cubic feet of in-place gas may be trapped along this trend.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.