Singapore Petroleum Company (SPC) has purchased an equity interest of 5.38% in Australian oil and gas company Cue Energy.
SPC said it had bought shares in Cue for investment purposes over a period of time from 26 April to 20 July 2007 at an average price of A$0.192 (US$0.17) per share, and currently holds 33,825,000 ordinary shares of Cue Energy through nominee holders.
SPC said it does not expect the Cue transaction will have any material impact on its earnings per share and net tangible asset per share for the current financial year.
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Singapore Petroleum Company (SPC) has purchased an equity...
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