Australian oil firm Santos has exercised an option to acquire a 40 interest in Melbana’s Beehive permit offshore W. Australia. France’s Total, which also had an option to farm-in, has decided not to proceed with an acquisition.
Santos had an option to acquire a 40 percent share, but given that Total has dropped the option to buy a stake, Santos’ option has been modified and the Australian company may acquire an 80 percent interest in the permit in return for funding 100% of the costs for an exploration well in the Permit area.
Northbridge Industrial Services plc (LON:NBI) hires and sells specialist industrial equipment to a non-cyclical customer base. With offices or agents in the UK, US, Dubai, Belgium, Germany, France, Australia, Singapore, New Zealand, Brazil and Korea, Northbridge has a global customer base.