Tangiers Petroleum Limited’s Board has approved the final terms of its Farm-Out Agreement with CWH Resources Limited ) and Ansbachall Pty Limited (Ansbachall) covering two of Tangiers' Australian exploration permits (the Farm-Out Agreement).

Tangiers has also been informed that the Boards of CWH and Ansbachall have approved the final terms and conditions of this Farm-Out Agreement, which will be executed by the parties at a signing ceremony to be held during the week commencing 20 May 2013.

The Farm-Out Agreement covers the permits WA-442-P and NT/P81, which are located in the southern Bonaparte Basin, about 250 km south-west of Darwin (see ASX announcement dated December 3, 2012).

Tags: Tangiers Petroleum Limited