Altona Energy shares have risen 14% in morning trading on news the firm has won approval from the South Australian Government for exploratory work at its Arckaringa project.
Altona also says it has agreed "key elements" of the work programme at Arckaringa with its joint venture partner, CNOOC NEI, which is a subsidiary of the China National Offshore Oil Corporation. CNOOC NEI has a 51% stake in the project.
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