Oil Basins Limited (ASX:OBL) is pleased to present its September 2012 Quarterly Report.
Highlights during the September quarter:
- The Company continued work on advancing a number of projects in its portfolio including a Cyrano contingent resources upgrade, preparations to drill East Blina-1 in the Canning Basin, and furtherance of native title arbitration concerning petroleum exploration permit application 5/07-8 EP in the Canning Basin.
- The Company announced in early September the awarding of a rig contract to Dynamic Drilling to use their Rig#17 based in Chinchilla South East Queensland for the East Blina-1 petroleum exploration well.
- OBL acquired an initial 19.9% interest in Bass Strait Oil Company Ltd (ASX:BAS) in late July, which was subsequently diluted to circa 17.4% by a significant placement and a rights issue by BAS in August and September.
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