10 May 2007
Apace Corporation finishes 3-D seismic shoot over VIC-45, as operator of the block Apace must drill a well to fulfill Liberty Petroleum's farm-in agreement. Apache Corporation is the most experienced offshore operator in Australia and may tap the estimated 1 TCF Archer prospect that has proven reserves of several million barrels of oil and 100 BCFG.
9 May 2007
Stuart Petroleum Farms in to PEL-100 and will drill a well within the next year paying 100% of costs for 50% of block. Liberty is excited with Stuart's record having successfully drilled almost 40 wells in the last several years booking reserves of almost $150,000,000 in value.