AUSTRALIA

Stuart bags $10M from Timor acreage sale

STUART Petroleum has boosted its coffers after receiving $10.29 million in settlement from the sale of its 50% stake in AC/P33 in the Timor Sea to PTTEP Australasia.

The company said the payment included recovery of back costs and an amount to cover the cost of casing which was transferred to the purchaser. Stuart sold its 50% stake in AC/P33 which contains the...

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