Moby Oil & Gas Limited is an Australia-based company, engaged in oil and gas exploration. The Company is involved in exploration for oil and gas in the offshore waters of Australia. Moby holds working interests in six Australian petroleum exploration permits situated in the offshore basins of Australia. Three are located in the Carnarvon Basin (WA-359-P, WA-360-P and WA-409-P), one in the Browse Basin (WA-342-P) and two in the Gippsland Basin (Vic/P41 and Vic/P47). The Company approximately holds 28% interest in WA-359-P, 10% interest in WA-360-P through Rankin Trend and 30% interest in WA-409-P through its subsidiary, Rankin Trend Pty Ltd (Rankin Trend); 22% interest in WA-342-P, and 35% interest in Vic/P47.