This agreement was signed by the Boonthamurra, Maiawali, Karuwali and Mithaka Peoples, the Minister for Natural Resources and Mines and Victoria Oil Exploration (1997) Pty Ltd and Seqoil Pty Ltd (a wholly owned subsidiary of OILEX NL).
The Boonthamurra, Maiawali, Karuwali and Mithaka Peoples are all registered Native Title claimants. They therefore have the right to negotiate in relation to future acts in the area of their claims.
This "right to negotiate" agreement will enable Victoria Oil Exploration to undertake exploration for petroleum resources with cooperation from the traditional owners of a 15,228 square kilometre area in Cooper Basin.
This is the first in an expected series of agreements relating to exploration for petroleum resources in the south-west Queensland Cooper Basin. This agreement is expected to establish a framework for agreements that address the interaction of the rights of Traditional Owners and oil exploration companies in south-west Queensland.
The native title parties are set to receive some financial benefits under the agreement, as well as being able to retain control over dealings relating to cultural heritage.