VicPet snaffles more of the Cooper

Victoria Petroleum has struck a deal with Australian Crude Oil Company to take five former Santos blocks in the Cooper Basin off its hands.

VicPet said it would be taking 100% of PEL's 86, 87, 89, 111 and 115, an area of 15,800 sq km, which it said would make it the second largest holder of exploration acreage in the South Australian Cooper / Eromanga Basins after Beach Petroleum.

Vicpet considers PEL 111 and 115 particularly prospective. It said 31 prospects had been identified on 2D and 3D seismic within PEL 115.