Just announced by NZO........
10 August 2012
Risk profile too high for Barque partners
NZOG advises that after an extensive technical review the joint venture partners of PEP 38259 in the Canterbury Basin, have agreed that the permit will be relinquished back to the Crown.
NZOG holds a 40% stake in PEP 38259 with Beach Petroleum (NZ) Pty Ltd holding 35% and AWE New Zealand Pty Ltd 25% respectively.
ends
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