By agreeing to enter into this second phase Dart will increase its direct share in the permit to 50 per cent.
Phase one included the drilling of three coreholes and one stratigraphic well.
The company has also completed an institutional raising of $35 million to fund activities including ongoing exploration, tenement acquisition costs and joint venture and farmin costs.
Dart Energy, which recently demerged from Arrow Energy, began trading on the Australian stock exchange on 22 July 2010.