Exploration & Production | Deals - Joint Ventures
Strike Energy, EWC To Develop Cooper Basin Gas Project
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Strike Energy Limited as operator and 66.67% interest holder of the PEL 96 Joint Venture (PEL 96 JV) and Australian Gasfields Limited (AGL), a wholly owned subsidiary of Energy World Corporation Limited jointly announced that under and in accordance with the Joint Operating Agreement (JOA) the parties have signed a Deed of Cross Security, an industry standard form of Cross Security that is required to be executed as the Joint Venture progresses to the development phase.
In addition, Strike is pleased to advise that all of the past due PEL 96 JV Cash Calls have been paid in full by AGL. Strike and AGL have also both contributed their respective share of the cash calls for the forthcoming PEL 96 fracture stimulation and flow testing program.
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