Cites approval risks and regulator time frames
Follows months of delays caused by former JV partners
Acquired for zero cash and a payment of US$100k for future liabilities
California-focused company to takeover RL Energy and progress Sydney Basin work
Sacgasco-operated project flowing at 1300Mcf per day
News comes as Xstate offloads project share to Raven
Company to move onto Zone 4 testing
Junior says Californian production could increase fourfold to 2MMcfpd
More acquisitions planned in under-explored part of Sacramento Basin.