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IPB Petroleum Ltd. ( (AU:IPB) ) has issued an announcement.
IPB Petroleum Ltd. has received a two-year extension from the National Offshore Petroleum Titles Administrator for the application period of a retention lease or production license over the Gwydion location within the WA-424-P permit. This extension allows the company more time to assess and progress the commercial potential of the Gwydion discovery and its integration with the Idris prospect. The company is actively seeking strategic partnerships and funding to support future drilling and development operations, and is conducting due diligence on several high-impact oil and gas opportunities that could enhance its asset base and deliver additional value to shareholders.
More about IPB Petroleum Ltd.
IPB Petroleum Ltd. is an oil and gas exploration company focused on developing its assets in the Browse Basin, offshore Western Australia. The company is engaged in the exploration and potential monetization of oil discoveries, with a key focus on the Gwydion oil discovery and the Idris exploration prospect.
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$4.94M
Learn more about IPB stock on TipRanks’ Stock Analysis page.