Nov 5 (Reuters) - Oil Basins Ltd OBL.AX :
* Entered into a funding agreement with the Australian special opportunity fund
* Deal for a total funding commitment of up to AU$1.2 million by way of a zero
coupon senior unsecured convertible security
* Says obl will receive a net AU$380,000 in funds after fees
* Says agreement has a term of up to 2 years
* Funds will be utilised for development of the co's projects and exploration permits in both onshore and offshore Australia
* Source text for Eikon ID:nASX94Z9sF