NZ Oil & Gas buys 19.99% of Cue Energy from Todd for A$13.96 mln

Sun, 21 Dec 2014

By Jonathan Underhill Dec. 22 (BusinessDesk) - New Zealand Oil & Gas, the listed exploration company, has acquired 19.99 percent of ASX-listed Cue Energy for A$13.96 million from Todd Petroleum Mining, gaining exposure to the Maari field. The transaction, at 10 Australian cents a share, is expected to be completed today, the company said in a statement. Shares of Cue last traded at 8.5 Australian cents. Cue has a 5 percent interest in the Maari field, which NZOG regards as "a quality asset and exposure to it fits our portfolio well," s...

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