Acer Energy Ltd, a wholly owned subsidiary of Beach Energy Ltd, acquired a 20% increase in interest in retention leases PRL 173 and PRL 174, located in the Cooper-Eromanga Basin, on 10 September 2018.  Acer Energy acquired all of previously joint venture partner Mid Continent Equipment (Australia) Pty Ltdâs interest in the permit, increasing its holding to 100% interest.Â  The companies had held joint interest since the award of the permits in February 2015.  PRL 173 contains the Ginko and Willow fields, which were discovered in 2005 and 2016 respectively.Â  PRL 174 contains the Crocus 1 discovery, which was made in 2004.  PRL 173 and PRL 174 cover a combined area of 154 sq km. Â Acer Energy Ltd now holds 100% interest in both permits.
Australia, PRL 173