Norwest managing director Ivan Burgess said the area was lightly explored but had existing seismic coverage. He said Norwest would pay for the data reprocessing as part of the deal. Norwest farmed into Black Rock's offshore WA 226P block last quarter.
The block is located on the eastern margins of the Perth Basin, about 20 kilometres east of Origin Energy's Beharra Springs gas plant.
"This deal adds to the Company's already extensive portfolio of Perth Basin acreage. While the permit is in the early stages of evaluation, Norwest believes it is a valuable addition with good potential," he said.
