AXE Archer Materials Limited

0.43

0.00 (0.00%)

Last Updated: 02:51:22

Delayed by 20 minutes

Share Name	Share Symbol	Market	Type
Archer Materials Limited	ASX:AXE	Australian Stock Exchange	Ordinary Share

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	0.00	0.00%	0.43	0.43	0.435	0.445	0.43	0.43	68,862	02:51:22

Archer Exploration Sells 5 Exploration Licenses To BHP Billiton

30/04/2012 1:32am

Dow Jones News

Archer Materials (ASX:AXE)
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Archer Exploration Ltd. (AXE.AU) said Monday it has agreed to sell five exploration licenses covering 3,699 square kilometers in Australia's Stuart Shelf region to BHP Billiton Ltd. (BHP) for A$8 million in cash.

The pact supersedes a previous agreement announced in late December that contemplated a joint venture between the two companies, Archer said in a statement to the Australian securities exchange.

-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094; robb.stewart@dowjones.com