NEW ZEALAND

Pike River payments flow

NEW Zealand Oil & Gas has received the first payment of $NZ5 million ($A3.85 million) from the receivers of Pike River Coal. Further payments are expected before the end of 2012.

The initial payment follows the sale of Pike River Coal to the government's Solid Energy last month. NZOG expects further payments of up to $NZ2.5 million before 2013. In addition, Solid Energy will...

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