WestSide Corporation

Latest WestSide Corporation News

• WestSide requires the funds to undertake the next stage of work at the Meridian SeamGas gas fields in Queensland's Bowen Basin.

• WestSide now advises that the indicative, conditional, non-binding and confidential proposal to acquire all of the shares in WestSide for cash consideration of $0.65 per WestSide share was received from LNG Limited.
• WestSide has entered into a confidentiality agreement with LNG Limited and granted due diligence access on a non-exclusive basis.

• WestSide Corp has advised that it has received an indicative, conditional, non-binding and confidential proposal from an unrelated party to acquire all of the shares in WestSide for cash consideration of $0.65 per WestSide share.

• The Glenlyon 1 appraisal well spudded in the Galilee Basin on 22 September 2011
• Glenlyon 1 is the first of up to four wells planned in an initial exploration program targeting the Permian coal measures
• WestSide plans to complete the $4 million program by the end of calendar 2011, subject to weather and geology.

• WestSide exits its Indonesian joint venture, enabling the Company to focus exclusively on its Meridian SeamGas and Bowen and Galilee Basin projects in Queensland
• WestSide secures unencumbered ownership of the Schramm TXD 180 drill rig as settlement

• Mitsui enter into farm-in agreements to acquire 49 per cent of WestSide's 50 per cent joint venture interests in Bowen Basin
• Mitsui to pay approximately $11.5 million - equivalent to 49 per cent of WestSide's acquisition and continuing exploration costs within the tenements to date
• Settlement will be finalised following the Queensland Ministerial approval of the change in tenement interests
• Farm-ins to strengthen WestSide's joint venture relationship with Mitsui and validate their Meridian SeamGas joint venture's LNG strategy

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