EP 127 And EP 128 - Georgina Basin
EP 127 and EP 128 comprise two granted exploration permits covering 7.5 million acres. The permits are located in the south-central part of the Northern Territory, to the south-east of Tennant Creek and the north-east of Alice Springs.
On 22 May 2009, Baraka signed agreements with Northern Territory Oil Limited (“NT Oil”) to earn 75% of EP 127 and EP 128 in the Georgina Basin in the Northern Territory.
Under the terms of the farmin agreements, Baraka will be the operator of the joint venture over each of EP 27 and EP 128 and may earn 75% of the permits by funding all costs of exploration on the permits in accordance with the terms of grant up to completion of an exploration well.