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AUSTRALIA

Stag purchase gored by oil price collapse

A DEAL announced in November to see Santos (66.7%) and Quadrant Energy (33.3%) sell a combined 100% interest in WA-15-L and the Stag oil field in the Carnarvon Basin to Malaysia's Sona Petroleum has become a victim of the collapsing oil price.

Haydn Black
Stag purchase gored by oil price collapse

The oilers have been forced to accept $US25 million for the field, half the expected $50 million. The Malaysian oiler entered into a deed of variation with privately-owned Quadrant and ASX-listed Santos...

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