Jadestone Energy has provided an update on the planned completion of the acquisition of the 69% operated interest in the Maari asset, shallow water offshore New Zealand.
9 June 2021 | 08:18am
StockMarketWire.com - Oil and gas company Jadestone Energy said it expected to complete the acquisition of a 69% operated interest in the Maari asset, New Zealand, in the second half of 2021, as it worked toward meeting the conditions for the sale. The company has continued working with the seller, OMV New Zealand Limited to satisfy the remaining outstanding conditions to complete the acquisition, in particular the approval of New Zealand Petroleum & Minerals, the company said. In parallel with the NZP&M discussions, the Company is in discussions with OMV New Zealand and expects to extend the long stop date under the Maari sale and purchase agreement, which is currently set at 30 June 2021, it added.
Update on Maari Acquisition 9 June 2021-Singapore: Jadestone Energy plc , an independent oil and gas production company focused on the Asia Pacific region, is pleased to provide. | June 9, 2021
Jadestone to close Maari field deal in 2H 2021 June 9, 2021, by Nermina Kulovic
Singapore’s Jadestone Energy expects to complete the acquisition of the 69 per cent operated interest in the Maari asset, located in the shallow water offshore New Zealand, from OMV in 2H 2021.
Jadestone entered into an agreement with OMV for the acquisition of a 69 per cent operated working interest in the Maari asset back in November 2019.
The acquisition was supposed to be completed in 2020. Despite several delays, Jadestone said in March 2021 it was committed to closing the deal. As the effective date remains 1 January 2019, Jadestone will ultimately receive all economic benefits of the Maari interest from that date.