The company is currently completing documentation with Longview Resources LLC, who will then will carry out reprocessing of the 3D seismic data over the Puffin discoveries in the AC/P22 permit in the Timor Sea. Longview is joint venture company comprising of Concordia Resources, LLC and Century Exploration Inc.
"Once this work has been completed Longview will have the option to drill one well to earn 80% of AC/P22. West Oil would retain 10%," West Oil said.
During the course of the issue West Oil also announced the purchase of a 22.5% interest in EP-341, offshore Carnarvon Basin, where the 20 million barrel potential Crackling South-1 well will be drilled in during the first quarter of next year. The company said it is also negotiating another farmin in the Carnarvon Basin.
