Drillsearch Energy Limited, Sydney, (ASX: DLS) has entered into a farm-in agreement with Real Energy Corporation Limited whereby Real Energy will earn a 50% participating interest and operatorship in ATP 927P and ATP 932P by fully funding the seismic program in each permit.
The seismic program consists of 1,000km of seismic reprocessing of data already acquired in both permits and acquisition of an additional 500km of 2D and 100km2 of 3D in ATP 927P and 650km of 2D and of 150km2 of 3D in ATP 932P.
The farmout of ATP 927P and ATP 932P to Real Energy is subject to the successful capital raising and listing on the stock exchange of Real Energy and the grant of the ATP 927P and ATP 932P permits by the Minister in Queensland.
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