PEL 73 Stansbury Basin
PEL 73 contains the Yorketown prospect which is located 96 kilometres west of Adelaide and relatively close to infrastructure. The area covers an area of 625 square kilometres and is within the Stansbury basin, which has been the subject of both onshore and offshore drilling since the 1930’s.
Austin maintains a 16.666% Working Interest the PEL 73 prospect.
The interest was acquired as part of the 2006 initial Austin Exploration Limited public offering.
The company has been notified by the operator DMS Exploration and its Managing Director Mr. David Schuette that he intends to offer the license to another operator.
Interest Holders
DMS Partners, LP - 41.66%
(Licence operator – operatorship then contracted to DMS Exploration).
PEL 73 Investment Partners, LP 25.00%
A.I.L. Holdings Limited 16.67%
Austin Exploration Limited 16.67%