The company told the market yesterday that co-venturer Australian Oil Company had failed to pay its cash call obligation by the November 2 due date.
As a result, Eagle Bay issued AOC a default notice, which expired last week on November 15.
Disputing it was at fault, AOC obtained a court order preventing Eagle Bay from exercising certain rights against a defaulting party under the PEL 182 joint venture.
The matter is listed for hearing in the New South Wales Supreme Court on Wednesday.
Eagle Bay is operator of the PEL 182 joint venture, which also involves Audax Resources and Dome Petroleum Reosurces.
This will be Eagle Bay’s second court appearance in as many months, after its (now former) chairman and chief executive Anthony Rechner was found guilty of making materially misleading statements to the ASX.
