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Evans Shoal Agreement
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9 Months Ended |
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Mar. 31, 2012
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| Evans Shoal [Abstract] | |
| Evans Shoal [Text Block] |
Evans Shoal Agreement
On March 25, 2010, MPAL entered into an agreement with Santos Offshore Pty Ltd (the “Asset Sales Deed”) to purchase Santos’ 40% interest in the Evans Shoal natural gas field (NT/P48) (the “Evans Shoal Transaction”). On January 31, 2011, the Asset Sales Deed was amended pursuant to a Deed of Variation between the parties. On July 22, 2011, the Asset Sales Deed was terminated and MPAL received from Santos a refund of an AUD $10.0 million deposit, plus interest, pursuant to the terms of the Asset Sales Deed, as amended.
Please refer to Note 12 of our Annual Report on Form 10-K for the fiscal year ended June 30, 2011, for information on the July 22, 2011 termination of the Asset Sales Deed.
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