It was a classic case of second bite of the cherry proving fruitful for Greymouth Petroleum after...
While no price was disclosed, industry watchers said the deal was believed to be worth less than $NZ50 million. Greymouth Petroleum was part of the Peak consortium that made an unsuccessful bid for Fletcher Energy last year.
Shell was required by NZ regulators to dispose of its interests in the Kaimiro and Ngatoro fields after acquiring Fletcher Challenge for $5 billion last March.
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