The Hector Gordon-led Somerton Energy is planning to drill up to four wells in 2011 within its beefed-up Otway Basin-centric portfolio. Gordon said that the Somerton strategy had arisen from a pragmatic view by its new major shareholder, Beach Energy, that taking control of the junior was the best way to recover at least some of the funds owed to it by Essential Petroleum Resources following Essential's failure to pay for its share of the offshore Fermat-1 well.
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