News: New Zealand Oil and Gas launches cash takeover for Cue Energy Resources

  1. New Zealand Oil and Gas (ASX:NZO) has launched an on-market $0.10 per share takeover offer for Cue Energy Resources (ASX:CUE), valuing the company at $69.8 million.

    The all-cash offer is unconditional and at a 11.1% premium to Cue’s last traded price. It will not be increased in the absence of a competing proposal.

    NZOG, which already has a 19.9% interest in the Cue, believes that its 5% interest in the producing Maari oil field in New Zealand, is a quality asset that fits its portfolio.

    The company had $115.2 million in cash, deposits and joint venture cash as at 31st December 2015.

     

 
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Last
7.1¢
Change
-0.00(2.07%)
Mkt cap $50.26M
Open High Low Value Volume
7.0¢ 7.1¢ 7.0¢ $49.93K 712.0K

Buyers (Bids)

No. Vol. Price($)
2 282767 7.0¢
 

Sellers (Offers)

Price($) Vol. No.
7.2¢ 70000 1
Last update - 15.56pm 23/10/2018 (20 minute delay) ?
CUE (ASX) Chart
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