Australia’s National Offshore Petroleum Titles Administrator (NOPTA) has approved the transfer of an 80% working interest in exploration permit WA-503-P, offshore Australia, to Rampart Energy Ltd.
In March 2015, Rampart secured rights to an 80% working interest as Operator in the said exploration permit, through an agreement with Neon Energy and partner Black Swan Resources Pty Ltd.
Block WA-503-P is located offshore Western Australia within the Dampier Sub-basin, inboard of the giant Northwest Shelf complex and on trend with numerous oil and gas discoveries, including the Legendre and Hurricane fields.
With 80% stake, Rampart is now operator of the permit while Black Swan holds 20% interest. According to the agreement, Rampart must carry Black Swan through the primary term of the permit.