By OGJ editors
HOUSTON, Mar. 4 -- Rocky Mountain Minerals Inc., Prescott, Ariz., has acquired 25% interest in two petroleum exploration permits, WA-322-P and WA-329-P, in the highly productive Northwest Shelf area of the Carnarvon basin.
The deal remains subject to approval by Australian regulators. The permits involve the Exmouth Joint Venture Project, where operations are focused on an emerging Australian oil and natural gas province, RMMI said. No wells have been drilled in either permit area.
Octanex NL holds 37.5% interest, and Strata Resources NL holds 37.5%. The underlying tenements are contiguous and comprise 1,440 sq km, which is 100-150 km southwest of Barrow Island.