Origin finalises Karoon gas deal

By John Conory

A further payment of up to $US50 million will be payable on first production if 2P reserves at the time of FID reach certain thresholds. "Origin’s acquisition of the permits, which contain large and prospective offshore gas fields such as the Poseidon discovery, allows the company to establish a strategic  position in one of Australia’s largest recent offshore gas discoveries," the company said. "The acquisition complements Origin’s recent farm-ins in the Cooper and Beetaloo basins and the awarding of new exploration acreage to the company in the Bonaparte Basin.

Read more here: Business Spectator

    

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