NEW ZEALAND

Octanex gets New Zealand approval

THE sale and farm-out agreements between Octanex and New Zealand Oil and Gas have been approved by the New Zealand Minister of Energy, with the first tranche of the $US12.5 million ($A12.1 million) from NZOG now payable.

Bianca Bartucciotto

NZOG has won a participating interest in three of the four offshore Taranaki permits held by Octanex, the PEP 51906, PEP 53473 and PEP 52593. Before the sale, Octanex had a 35% participating interest...

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