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Oil explorer Finder seeks $150 mln for Australia drilling

Published 16/11/2017, 01:33 am
© Reuters.  Oil explorer Finder seeks $150 mln for Australia drilling
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LONDON, Nov 15 (Reuters) - Australia-focused oil and gas explorer Finder Exploration is seeking to raise $150 million for the drilling of five wells off the country's northwest coast, a document seen by Reuters showed.

The wells could hold as much as 600 million barrels of oil and gas equivalent, the privately owned company said in a presentation to potential investors.

Finder, a joint venture with energy services company Fugro FUGRc.AS , hopes to start drilling in the third quarter of 2018.

The exploration blocks are adjacent to the Browse basin and Northern Carnarvon basin, where a number of large oil companies including Exxon Mobil (NYSE:XOM) XOM.N and Royal Dutch Shell RDSa.L operate.

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