Key Petroleum closes Mount Horner acquisition

PERTH junior Key Petroleum has closed its acquisition of the L7 production license in the Perth Basin Mount Horner oil field, gaining a 100% interest in the block from Mitsui, which picked it up in its acquisition of AWE earlier this year.

Key Petroleum closes Mount Horner acquisition Key Petroleum closes Mount Horner acquisition Key Petroleum closes Mount Horner acquisition Key Petroleum closes Mount Horner acquisition Key Petroleum closes Mount Horner acquisition

 

The original terms of the Sale and Purchase Agreement saw an exit payment of A$380,000 paid to Key, and AWE also providing Key with A$1.9 million for L7 rehabilitation costs...