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Area Drilling

05/12/2008
AustraliaSentry Petroleum Ltd., Denver, acquired from Medina Group of China the rights to explore ATP 865, a 1.68 million acre permit in Queensland’s Adavale basin 1,000 km west of Brisbane.The company identified the Sherwood Park prospect and numerous leads. The basin covers 14 million acres and has a proven petroleum system but is lightly explored with fewer than 60 exploration wells.ATP 865 is within 30 km of a 13 bcf gas field and 40 km east of fields that contain more than 15 million bbl of recoverable oil. The block acquisition is subject to regulatory approval and the assignor’s retention of a 0.5% royalty after the transaction.ChileThe government signed a special opera...
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