21st Feb 2014 09:49
LONDON (Alliance News) - Oilex Ltd Friday said the Environmental Management Plan for the acquisition of an airborne gravity/magnetics survey over its STP-SPA-0055 Site in the Australian Canning Basin has now been approved.
The exploration-and-development oil company said the approval was given to its wholly owned subsidiary Admiral Oil NL by the Australian Department of Mines and Petroleum.
The company said the approval, along with the signing of agreements with three traditional owners groups, which was announced earlier in February, has facilitated the award of the survey acquisition, processing and interpretation to CGG Aviation Pty Ltd.
Oilex said planning and preparations have immediately commenced with an expected mobilisation window between March 15 and March 31.
The company announced in February, that Admiral Oil had signed agreements with three traditional owners groups to facilitate overflight access for the survey.
Oilex shares were down 1.2% to 4.10 pence Friday.
By Tom McIvor; [email protected]; @TomMcIvor1
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
OEX.L