| In October 2007, CIECO Exploration and Production (Australia) Pty Ltd., wholly owned subsidiary of ITOCHU Corporation, completed its purchase of a 20% participating interest in the permit VIC-L26, VIC-L27, VIC-L28 in the offshore Gippsland Basin (Bass Strait), Victoria.
Oil fields named Basker and Manta have been under crude oil production since January 2007. The joint venture led by Anzon Australia Limited, as an operator, currently produces approximately 13,000 BOPD of crude oil production. The fields have been under further crude oil and gas appraisal and development.
|
| Equity Holders:
|
| Anzon Australia Ltd. |
40.0% |
| Beach Petroleum Ltd. |
30.0% |
| CIECO Exploration and Production Pty Ltd |
20.0% |
| Sojitz Energy Australia Pty Ltd. |
10.0% |
