AUSTRALIA

EOR halves Wailawi payment

ENHANCED Oil & Gas Recovery has again renegotiated its deal with Centre Energy Petroleum for the purchase of an 85% share Wailawi oil and gas project in Indonesia to reflect how much energy prices have changed in the five years since the transaction was first proposed.

Haydn Black

EOR will now pay just $5.11 million, down from the original purchase price of $12.8 million, with the purchase price to be met by the issue of shares in three stages out to June 2018. Seller CEP, which...

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