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Native title delays frustrate OCA

Tired of waiting for the completion of protracted native title claims the Oil Company of Australia (OCA) has decided to sell its 50% stake in ATP633P to Beach Petroleum immediately the permit is granted.

In 1996 joint applicants OCA and Beach were chosen as the preferred explorers for Area 1 in the South West Queensland land release.

The grant of the Authority to Prospect for Petroleum (No. 633P) has however been subject to the company's participating in a Right-to-Negotiate (RTN) procedure under the Native Title Act 1993.

So far the RTN procedures have not progressed and since it is unlikely that ATP633P will be granted in the near future OCA said it had chosen to remove itself from the process.

In recent years OCA has sold all of its oil assets in South West Queensland.

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