Last week, the company had said it was actively pursuing low-cost, high-value opportunities in North Africa and South East Asia while continuing to foster and develop our Cooper Basin interests.

“This is consistent with Cooper’s stated strategy of developing a number of international exploration projects to provide the company with the next stage of growth,” the company said.

“The cost of the expected three year work program – comprising data review or 200 square kilometre 3D seismic acquisition and one exploration well – will be funded from within the ongoing exploration budget developed for offshore activities. Several successful wells have been drilled on the adjacent acreage, Block A.”

Cooper said it was looking forward to working with the joint venture participants and the Cambodian Government in this venture.

The company recently announced cash reserves at the end of the June quarter of more than A$22 million.

The deal is subject to approval by the Cambodian government and to signing of the final production sharing contract.