Fitzroy River Corporation Ltd is a public company listed on the ASX (ASX code: “FZR”) with strategic non-operational investments.
Its current investments comprises of Royalty agreements centred around oil and gas production in the onshore Canning Basin in far north Western Australia.
The main counterparties on the WA royalty agreements are Buru Energy Limited (ASX:BRU (Buru)) and Diamond Resources (Fitzroy) Pty Ltd (‘DRF’) and Diamond Resources (Canning) Pty Ltd (DRC) both subsidiaries of Japanese conglomerate, Mitsubishi Corporation (Mitsubishi).
Buru is the Operator of the permits focused on the Canning Superbasin, Western Australia. Fitzroy holds royalties over some but not all of Buru’s permits. Buru’s permits include the Ungani oil field and Laurel Basin Centre Gas System over which FZR has a royalty.
Main activities of Fitzroy Management
- Royalty collection
- Review of new investment opportunities
- Contract maintenance with Buru and Mitsubishi
- Title maintenance (ensuring royalty dealings are and remain registered against the relevant permits)
- Monitor operational activities across all royalty permits, and
- Company routine operations & reporting as an ASX listed company.
- 90,788,294 shares – Market cap:
- No options or other convertible securities