New Zealand Oil & Gas (NZX: NZO, ASX: NZO) notes the attached release made by Central Petroleum Limited (Central), Operator of the Mereenie gas field in Central Australia regarding an extension of the condition precedent satisfaction period in the Arafura gas supply agreement.
NZO has a 42.5% interest in the Mereenie project along with joint venture partners Horizon Oil (25%), Central (25% Operator) Cue Energy Resources (7.5%). For further information please contact [email protected] or +64 4 495 2424.
The S&P/NZX 50 Index is down 1.5% since the beginning of the year.
Pacific Edge is on a trading halt until Monday.
The downgrade comes ahead of Jan 26, when Briscoe's financial year ends.
To join your company account for BusinessDesk and enjoy full access, enter your email and we’ll send you details