Tap Oil has agreed to sell 25 per cent of a Western Australian natural gas exploration permit for $US30.2 million ($A27.66 million) to a joint venture of Japanese trading giants Mitsubishi Corporation and Mitsui & Co.

Tap Oil has agreed to sell 25 per cent of a Western Australian natural gas exploration permit for $US30.2 million ($A27.66 million) to a joint venture of Japanese trading giants Mitsubishi Corporation and Mitsui & Co.