News Articles for Rey Resources

An environmental group has accused ASX minnow Rey Resources of shirking its rehabilitation responsibilities in the Kimberley, as it prepares to sell an oil project in the area to a Chinese firm.

Buru Energy has started the hunt for an ally to help develop its Rafael conventional gas and condensate resource in Western Australia's Canning Basin after appointing Miro Capital as a key advisor for its strategic partner selection process. With the Canning Basin's first significant gas discovery, Buru believes the scope of its project will hep create a long line of suitors for Miro to assess.

Buru Energy will feed appraisal drilling plans by collecting 200 square kilometres of 3D seismic data from its 100 per cent-owned Rafael gas-condensate project in the Kimberley region of Western Australia's Canning Basin. The company says interpretation of a fast-tracked volume, also using information from some 2D lines, will be complete in the last quarter of this year.

Buru Energy has commissioned 200 square kilometres of three-dimensional seismic data over its 100 per cent-owned Rafael gas-condensate discovery in Western Australia's Kimberley region, as the company takes aim at an appraisal drilling campaign. The survey will assist the company in de-risking reservoir factors in a bid to progress its commercial case for its potentially large-scale discovery.

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Origin Energy has agreed to assign its interests in joint venture exploration permits in WA's Canning Basin, including the massive Rafael gas and condensate discovery to Buru Energy for no upfront payment. Origin will also pay Buru up to $4 million to fund a 3D seismic survey for its gas and condensate discovery Rafael 1.

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SPECIAL REPORT: The median base pay of newly appointed chief executives at listed Perth companies fell this year to $295,000, a survey by Business News has found.

Rey Resources has withdrawn its application for environmental approval for a controversial coal project in WA's remote Kimberley region.

Rey Resources has entered into an agreement to raise $3 million which will fund a new well in the perth basin, as AWE also this week commenced drilling a new well in the same region.

The entry of two European energy companies into WA will help to bolster activity in the onshore oil and gas sector, which is set for a pick-up after a series of disappointments.

Perth oil and gas explorer Rey Resources has agreed to farm into the Dunnart-2 exploration well joint venture in the Perth Basin with Key Petroleum and Caracal Exploration.

Sino-Australian investment house ASF Group will become the single largest shareholder in Perth-based Key Petroleum after agreeing to a 19.9 per cent placement of Key shares as the company expands its interests in Canning Basin oil and gas plays.

Rey Resources has reached agreement to sell its Duchess Paradise coal project in the Canning Basin to its Hong Kong-based major shareholder for $21 million.

Buru Energy has sold off interests in two petroleum exploration permits in the Canning Basin to Rey Resources and Japan's Mitsubishi Corporation for cash considerations of around $21 million.

ASF Group has been successful in overthrowing the board of Rey Resources, with shareholders supporting a spill resolution at the company's annual meeting today.

Rey Resources has received a formal requisition from major shareholder ASF Group to convene a meeting of shareholders to remove several of the company's directors.

ASF Group has moved to usurp control of Rey Resources from its current board of directors, as hostilities increase ahead of Rey's ‘second strike' annual meeting next week.

Mid-cap exploration companies Rey Resources, Deep Yellow and Arafura Resources have announced capital raisings worth a collective $34 million to fund works at their respective projects.

Rey Resources has completed a $4 million share placement for its Duchess Paradise coal project in WA's Kimberley region.