AFTER acquiring a 6.75% stake in Cue Energy, Singapore Petroleum Company has informally approached the Melbourne-based junior about closer cooperation and integrating the two companies exploration and production business.
Cue said no formal proposal or written offer has been received and it was unsure of SPC's specific intentions.
SPC built up its stake in Cue between July 27 and August 3.
Cue and SPC are partners with operator Santos in the Sampang production sharing contract in Indonesia, which includes the Oyong oil and gas project.
Cue's largest shareholder is New Zealand's Todd Energy, which has a 25% stake.
On Friday, shares in Cue remained unchanged at A22c. the company opened at 21c today.
ENB’s CCS Report 2024 finds that CCS could be the much-needed magic bullet for Australia’s decarbonisation drive
ENB’s latest Cost Report findings provide optimism as investments in oil and gas, as well as new energy rise.
ENB’s inaugural Future of Energy Report details the industry outlook on the medium-to-long-term future for the sector in the Asia Pacific region.
This industry-wide report aims to understand current cost levels across the energy industry
Copyright © 2000-2024 Aspermont Ltd. All rights reserved. Aspermont Limited (ABN 66 000 375 048), PO Box 78, Leederville, Western Australia 6902
