ASX-listed Raisama quits Kakapo farm-in partnership with NZOG

Tue, 12 Feb 2013

Feb. 13 (BusinessDesk) - ASX-listed Raisama Energy has backed out of its 10 percent interest in the Kakapo oil and gas prospect in Taranaki, preferring opportunities in Asia instead. The Perth-based company said it has written to partner NZOG Developments, a subsidiary of New Zealand Oil & Gas, and won't go ahead with its farm-in agreement on the Taranaki Basin permit, according to a statement lodged with the ASX yesterday. Raisama was to earn 10 percent working interest by paying a fifth of drilling costs up to A$3 million, it said. "Rais...

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