New Zealand Oil & Gas (NZOG) subsidiary, Cue Energy Resources (ASX:CUE), has entered into a $7 million, two year unsecured loan agreement to support its existing exploration and development activities and ensure sufficient working capital.
NZOG holds a 50.04% interest in Cue.
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The deal is subject to regulatory approvals and commercial conditions.
Every sector of the Australian share market has lost ground.
The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.
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