Further to DEA 19 Nov â18, Petrel has signed a share purchase agreement (SPA) to acquire Warrego Energy via a reverse takeover, expected to be completed on 19 Feb â19. Warrego runs EP 469 in the North Perth Basin, where partner Strike Energy will fund AUD 11 million towards the drilling of West Erregulla-2 in 1H â19. Outside Australia, Petrel has interests in Uruguay, Ireland and Spain, where it plans to drill next year (Tesorillo-1).
Petrel has acquired 100% interest in EP 469 block from Warrego Egy.