AUSTRALIA

ADX sells stake in PEL 182 to VicPet

ADX Energy, formerly Audax Resources, has sold its 49.9% operating stake in PEL 182 in the Cooper Basin, South Australia, to Victoria Petroleum for $A1.1 million.

ADX said the sale was consistent with its strategy of focusing its resources in its core areas of Tunisia and Romania, where it believes it has better opportunities. The 1750 square kilometre PEL 182...

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