Origin Energy agrees to sell TAWN fields to NZ Energy for C$42M plus earnouts

Thu, 31 May 2012

June 01 (BusinessDesk) - Origin Energy agreed to sell its interest in four Taranaki licences to New Zealand Energy Corp, a Canadian-listed oil and gas company for about C$42 million and a share of future royalties. Origin, which also owns half of Contact Energy, will sell its Tariki, Ahuroa, Waihapa and Ngaere fields, known as the TAWN fields, along with its Waihapa production station and associated assets, it said in a statement. The Australian energy company will keep a 10-year option to use eight wells within the fields for gas storage a...

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