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AUSTRALIA

Oil Basins attracts FMG investment

JUNIOR Canning Basin explorer Oil Basins has pulled off somewhat of a coup with iron ore giant Fortescue Metals Group becoming a major shareholder.

Andy Graham

FMG become an 18% shareholder in Oil Basins. It will be issued 120 million shares at A3.5c each, which is a 40% premium to Oil Basins' seven-day volume weighted average price. FMG will be issued 100...

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