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.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...