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The Directors present their report for Harvest Minerals Limited ('Harvest' or 'the Company') and its subsidiaries ('the Group') for the year ended 30 June 2016. The Annual Report has today been posted to shareholders.
Oil Basins Ltd (ASX:OBL) has entered into an agreement with Ochre Group Holdings Ltd (ASX:OGH) for the sale of its royalty-earning subsidiary for $400,000. The wholly owned subsidiary owns the right to earn 2% over-riding royalty interests from three permits - Vic/P47, Derby Block EP 487 and Cyrano R3/ R1. The consideration for the sale will be the recent advance of $400,000 by Ochre to Oil Basins, concerning a mandate agreement for ongoing corporate advisory and funding arrangement services.
Australia's oil and gas exploration firm Oil Basins Ltd. (OBL) reported Wednesday that the company has entered into a conditional provisional agreement for Ochre Group Holdings (OGH) to provide advice and financing as both work to develop an appropriate growth strategy for its oil and gas exploration portfolio.