Emperor sells off Cyrano field

SYDNEY-headquartered junior Emperor Energy told the market this morning it had agreed to sell its offshore Retention Lease Cyrano R3/R1 in the Carnarvon Basin to private company BR Cyrano Pty Ltd.

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Under the agreement, BR Cyrano will pay Emperor $325,000 cash and a royalty of 50 cents per barrel of oil equivalent produced from the title area.