Origin said that Tri-Star Petroleum and related companies have commenced proceedings against Australia Pacific LNG in the Queensland Supreme Court.
Tri-Star is seeking orders that reversion has occurred in relation to certain coal seam gas tenements owned by Australia Pacific LNG.
Rights for Tri-Star to revert to a 45% interest holder in those certain tenements were granted by Australia Pacific LNG in 2002. The rights will be triggered if the conditions set out in the 2002 agreement have been met, which require revenue to exceed agreed costs and other contributions.
Origin said in a statement that it is confident that reversion has not occurred.
Australia Pacific LNG is reviewing the Statement of Claim and will respond in due course, said the company in a statement.
Origin holds a 37.5% shareholding in Australia Pacific LNG.
[mappress mapid=”15721″]
Press Release; Image: APLNG