Company Overview and News
The funds will be used for further exploration of the company’s oil and gas assets and general working capital. Rey holds a 50% participating interest in, and is the operator of, the Derby Block exploration permit at the Canning Basin in the northwest of Western Australia. The Derby Block is considered to be predominantly a Wet Laurel Basin Centred Gas (BCG) play, which is regionally extensive throughout the Canning Basin.
Oil Basins Ltd. resigned Monday as operator of petroleum license EP 487 (Derby Block) in the Canning Basin, Western Australia (WA) in accordance with the order from the state's Supreme Court as Rey Resources Ltd.'s subsidiary Rey Lennard Shelf Pty Ltd. takes over the role.
Rey Resources Ltd. reported Thursday that the Supreme Court of Western Australia (WA) ordered Oil Basins Ltd. to resign immediately as field operator of petroleum license EP487 (Derby Block) in WA's Canning Basin, while designating the former's subisidiary Rey Lennard Shelf Pty Ltd. as the new operator.
ASF Group Ltd (ASX:AFA) is a Sino-Australia investment and trading house with a focus on the identification, incubation and realization of opportunities in areas of synergy between China and Australia.