Cambrian Oil Poised to Acquire Interest in Methanol Australia

摘要

Melbourne-Cambrian Oil & Gas Plc,which currently holds a 3.9% interest in Methanol Australia Ltd.,plans to increase its holding to 12.6% with the purchase of additional ordinary shares.Methanol Australia,formerly Timor Sea Petroleum,is building an A2.4-billion methanol project that involves two floating methanol units on Australia's Tassie Shoal in the Timor Sea,each designed to produce 1.75-million t/y of methanol(PCN,17 May 04,p 3).The project is being undertaken in two phases,with the first phase expected to come on stream in 2007.