CTP central petroleum limited
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News: CTP New Zealand Oil And Gas To Buy Interests In 3 Producing Assets From Central Petroleum

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    25/05/21
    06:40
    Post #: 53387411

    May 25 (Reuters) - New Zealand Oil And Gas Ltd (NZO) :

    • PROPOSED ACQUISITION OF CENTRAL PETROLEUM AMADEUS ASSETS
    • AGREES TO PURCHASE INTERESTS IN 3 PRODUCING NORTHERN TERRITORY ASSETS FROM CENTRAL PETROLEUM
    • CASH PAYMENT OF A$29M
    • CO TO ACQUIRE 70%, CUE ENERGY TO ACQUIRE 30% OF ASSETS
    • DEAL WILL INCREASE GROUP’S 2P (PROVED AND PROBABLE) RESERVES BY 14.5 MILLION BARRELS OF OIL EQUIVALENT
    • NEW ZEALAND OIL AND GAS & CUE ENERGY TO ALSO FUND CENTRAL'S SHARE OF COSTS OF EXPLORATION, APPRAISAL & DEVELOPMENT CAPPED AT A$40 MILLION

    NZO)

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