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CUE 6.3¢

NZO takeover offer

  1. bung5

    280 Posts.
    2
    NZO just released this


    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.

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