Cue Energy rejects NZOG's unconditional takeover offer (Scandinavian Oil-Gas Magazine)

Skip Navigation

News
Financial
Oil
Gas
Rigs
- Rig supplier news
- Rig market
Alternative Energy
- Biofuels
- Wind
- Water
- Solar
By Province
- North Sea Rim
- Russia
- Africa
- Americas onshore
  - Latin America
  - Canada
  - USA
- Americas offshore
- Middle East
- Asia-Pacific
- Australia
Events
Printed Magazine
- Subscription
Mediaplan
Members page
- E-mail Alert

Cue Energy rejects NZOG's unconditional takeover offer

Published Feb 13, 2015

E-mail

[an error occurred while processing this directive]

Edit page New page Hide edit links

New Zealand Oil & Gas Ltd. (NZOG) says its wholly-owned subsidiary NZOG Offshore, is making an unconditional takeover offer for ASX-listed Cue Energy Resources Limited in Australia.

The on-market cash offer of $0.0765 (AUD 0.10) per share expires at the end of trading on the Australian Securities Exchange (ASX) March 27. New Zealand Oil & Gas believes Cue's major asset, a 5 percent interest in the Maari oil field in New Zealand, is a quality asset that fits our portfolio well.

In December New Zealand Oil & Gas, through NZOG Offshore, made an off-market purchase of 19.99 percent of Cue Energy from Todd Petroleum at the same price, for a total value of $10.68 million (AUD 13.96 million).

Tags: Cue Energy, New Zealand Oil and Gas Ltd

Advertisment:

Comments on this page are closed.

+ Larger Font | + Smaller Font

Top Stories

New Chief Executive Officer of Aker Energy Feb 23, 2018 Jan Arve Haugan has been appointed as Chief Executive Officer of the newly established oil company Aker Energy, effective 1 March 2018. Haugan is currently the President & CEO of Kværner ASA.

Rystad Energy - Borr Drilling takes charge of the jackup market

Borr Drilling Goes From Empty-Handed to the Largest Jack-Up Driller In Just 16 Months Feb 23, 2018 “It is remarkable what Tor Olav Troim has achieved in such a short amount of time. Going from two jack-ups in December 2016 to becoming the largest jack-up provider...” says Oddmund Føre, vice president of oilfield service research at Rystad Energy.

Borr Drilling Takes Over Paragon Offshore to Expand MODU Fleet Feb 23, 2018 Borr Drilling’s acquistion of Paragon Offshore will create a USD 3.57 billion MODU fleet.

Southwest Research Institute (SwRI) - IMSF2

SwRI to Host Inaugural International Multiphase Flow Separation Symposium Feb 23, 2018 Southwest Research Institute is bringing together oil and gas industry experts for the International Multiphase Flow Separation Symposium (IMFS²), to be held April 25-26, 2018, at SwRI’s headquarters...