Cue board rejects NZOG takeover offer

Fri, 13 Feb 2015

By Pattrick Smellie Feb. 13 (BusinessDesk) - Directors of ASX-listed Cue Energy Resources have advised shareholders to reject the 10 Australian cents per share takeover mounted by New Zealand Oil & Gas, saying it "substantially undervalues" the company and may see unproven exploration opportunities sacrificed in favour of immediate cashflow from producing assets in New Zealand. "NZOG has stated that its primary interest in Cue Energy is in Cue Energy's interest in the Maari and Manaia fields in New Zealand's Taranaki Basin, " a statement...

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