Odin Energy sells stake for $10m

West Perth-based oil and gas explorer Odin Energy NL has finalised the sale of its stake in Victoria Petroleum NL for nearly $10 million.

The company said it made a profit of $1.48 million, which represented a cash asset backing of nine cents per share.

Additionally, Odin chairman Alex Bajada and non-executive director Anthony Short have resigned from the board of Victoria Petroleum.