1. Most Discussed
  2. Gainers & Losers
NZO 57.0¢

Ann: GENERAL: NZO: Cue Energy Resources

  1. 					NZO
    12/02/2015 09:39
    GENERAL
    PRICE SENSITIVE
    REL: 0939 HRS New Zealand Oil and Gas Limited
    
    GENERAL: NZO: Cue Energy Resources
    
    NZOG Offshore, a wholly-owned subsidiary of New Zealand Oil & Gas, is making
    an unconditional takeover offer for ASX-listed Cue Energy Resources Limited.
    
    The on-market cash offer of A$0.10 per share expires at the end of trading on
    the ASX on 27 March 2015.
    A copy of the Bidder's Statement is attached and will be sent to Cue Energy
    shareholders.
    
    New Zealand Oil & Gas believes Cue's major asset, a 5 per cent interest in
    the Maari oil field in New Zealand, is a quality asset that fits our
    portfolio well.
    
    In December New Zealand Oil & Gas, through NZOG Offshore, made an off-market
    purchase of 19.99 per cent of Cue Energy from Todd Petroleum at the same
    price, for a total value of A$13.96 million.
    
    New Zealand Oil & Gas is New Zealand's largest publicly-listed explorer
    Established in 1981 and listed on the New Zealand and Australian stock
    exchanges, it has two major producing assets offshore Taranaki New Zealand
    and exploration interests in New Zealand and Indonesia.
    
    John Pagani
    External Relations Manager
    +64 21 570 872
    End CA:00260558 For:NZO    Type:GENERAL    Time:2015-02-12 09:39:36
    
    				

DISCLAIMER:
Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.

Top

Thank you for visiting HotCopper

We have detected that you are running ad blocking software.


HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.