Key Petroleum

West Perth-based Key Petroleum has entered a deal with an unlisted UK company to acquire its wholly owned subsidiary, Midmar Energy Onshore, for £2 million ($A4 million).

AN energy player backed by Warren Buffett’s investment company Berkshire Hathaway has become the latest to tackle the tight gas reserves at Whicher Range near Busselton, hoping to succeed where many others have failed since the area was first drilled in 1968.

Key Petroleum non-executive director Ian Paton has been appointed chairman of the WA oil & gas explorer.Mr Paton is a former non-executive chairman of New Standard Energy, and has previously worked at Santos, Conoco and PTTEP. 

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.

Non-executive director Rex Turkington has been appointed non-executive chairman of Key Petroleum.Mr Turkington is currently managing director of South Pacific Securities and a non-executive director of TNG. 

Empire Oil & Gas has appointed an independent chief executive to lead the business following a board overhaul last year which claimed the scalps of each of its former directors.

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.

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.

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.

WA is expected to be the world's second-largest LNG exporter by 2020.

Community interest in the controversial practice of fracking has prompted Western Australia’s environmental watchdog to issue advice on how it will assess shale and tight gas proposals.

SPECIAL REPORT: Global oil prices may have halved in the past 18 months, but WA onshore energy players like their prospects.

Laconia Resources to acquire Kraaipan gold-nickel-copper-PGM project in Botswana for $100,000 in cash and $900,000 in scrip.Lucapa Diamond Company to acquire a 70 per cent interest in the Mothae Kimberlite project from the government of Lesotho for a consideration of $US9 million.

SPECIAL REPORT: Only a small number of oil and gas players in the Perth Basin are moving forward on projects.

A summary of last week's smaller deals that did not get included in our daily news coverage.

A summary of last week's smaller deals that did not get included in our daily news coverage.

Our board moves wrap includes Simon Jackson, Trevor Benson, Marc Steffens, Rex Turkington, Kane Marshall, Ric Jason, Geoff Baker, Justin Boylson, and Gregg Taylor.

Today's board moves wrap includes Nicholas Ong, Sam Budiselik, John Ribbons, Melissa Chapman, Catherine Grant-Edwards, Michael Nossal, DongMei Ye, George Karageorge, Stuart Till, Terry Strapp, Chris Berkefeld, Eugene Nel, John Ciganek, and Bill Oliver.

Our board moves wrap includes Robert Ryan, Tim Goyder, Derek La Ferla, Jim Landau, Peter Marks, Jason Shaw, Louis Chien, DongMei Ye, Ric Jason, David Chapman, Lisa Mitchell, and Neil Meadows.