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Bass Oil (ASX:BAS) enters SPA with Cooper Energy
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Bass Oil (BAS) enters a conditional sale and purchase agreement (SPA) with Cooper Energy to acquire its South Australian assets
Under the SPA, Bass will acquire three non-operated Cooper Basin assets and a 30 per cent interest in the Worrior oil field for $650,000
Following completion of the SPA, Bass will be in a joint venture with a subsidiary of Beach Energy who will operate the assets
The transaction is subject to a number of conditions including regulatory approvals and Bass raising the required funds