On 29 November 2018 the National Offshore Petroleum Titles Administrator (NOPTA) approved an option agreement, for Skye Resources Pty Ltd to acquire Quadrant Energyâs interest in exploration permits WA-155-P and TR/3, located in the North Carnarvon Basin.Â  The deal had been entered into by the companies on 23 October 2018.  It was reported by NOPTA, that the agreement gives Skye Resources the option to acquire Quadrantâs interest in the permits.Â  The deal is pending final approval to be completed.Â  Quadrant is now owned by Santos after a successful takeover in November 2018.  WA-155-P, which covers an area of 289 sq km, was awarded on 1 March 1981.Â  Quadrant holds a 71.5% interest, with joint venture partner Carnarvon Petroleum holding the remaining 28.5%.Â  Carnarvon has been looking to farm-out a portion of its interest in the permit.Â  WA-155-P contains the Outtrim discovery, which was made in 1984.  TR/3 covers an area of 32 sq km and was awarded on 20 November 2001.Â  Quadrant Energy Ltd holds 100% interest in the permit.Â  TR/3 contains the Blencathra discovery, which was made in 1995.
Quadrant Energy Pty Ltd WA-155-P, TR/3, North Carnarvon Basin - option agreement signed with Skye Resources