The farm-out could see Sentry earn up to 85% in the licences by funding a two phase exploration programme of seismic and wells.

The first phase is for a minimum work commitment of 1000 kilometres of seismic exploration to earn an 80% stake in the licences, and if positive Sentry would fund the drilling of at least one well under the second phase to earn a further 5%.

Sentry would become the operator and have the opportunity to subcontract Monitor's technical and field personnel.

Monitor has licences in the areas near the Junggar Basin and Tarim Basin and in the oil and gas fields of Kazakhstan.