Finder Energy Holdings (ASX:FDR) completed the farmout agreement to assign a 40% interest in seaward production license P2530 to Serica Energy (UK), according to a Monday Australian bourse filing.

The company continues as the operator and now has a 20% stake in license, the filing said. It is undertaking engineering feasibility studies to decide whether to enter phase C of the license or discontinue the license at the end of phase B.

Shares of the company fell 3% in recent Monday trade.