Norwest Energy joins Rey to develop assets in Western Australia

Norwest Energy NL has formed a strategic alliance with Rey Resources Ltd. to investigate opportunities to further develop the interests held by Norwest in the northern Perth Basin, Western Australia.

The formation of the alliance follows discussions between Norwest and Rey about potential farm-out opportunities around Norwest’s Perth Basin interests, including the previously announced TP/15 farm-out process.

In support of the strategic alliance, Norwest and Rey have entered into a subscription agreement whereby Rey has subscribed for $195,075 (AUD 250,000) of Norwest shares at a price of $0.0037 (AUD 0.004712) per share, which will result in 53,056,027 shares being issued to Rey.

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