SUBIACO: Global Oil & Gas Limited (GLV) announced that it has completed its due diligence into Goshawk Energy Corporation Pty Ltd and has exercised the option to proceed with the 20% acquisition of Goshawk.
The acquisition remains conditional on the satisfaction or waiver of the remaining conditions precedent, including GLV obtaining all necessary shareholder and regulatory approvals, and GLV successfully completing the Tranche 2 equity Placement and current non-renounceable Rights Issue.
Global Oil and Gas director, Patric Glovac, commented: “The decision to proceed with the 20% strategic acquisition of Goshawk provides GLV with exposure to a multifaceted Oil and Gas Project with an extensive footprint across the Canning Basin in Western Australia. The portfolio includes the advanced Helvitica sub salt oil Prospect that is part of the 80% joint venture with Andrew Forrest’s Squadron Energy providing the Project with a world-class partner.
he Board looks forward to further evaluating each of the prospects within the Goshawk portfolio to prioritise the advancement of each of the respective projects and expedite exploration and development”.