News

Scheme of Arrangement

Posted on 9 October 2019

The High Court has varied the original orders granted in relation to the proposed scheme of arrangement with O.G. Oil & Gas.

The variation postpones the court hearing to consider approval of the scheme to 3 December 2019. A copy of the amendment to the orders is attached.

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Scheme Of Arrangement

Posted on 8 October 2019

• Scheme price increased to 74 cents per share
• You can change your vote
• The scheme price will not be increased further.

The price being offered to minority shareholders under the proposed scheme of arrangement with O.G. Oil & Gas has been increased. The price increase was notified by OGOG following an approach from the independent directors of New Zealand Oil & Gas. OGOG is increasing the price on a “last and final” basis.

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New Zealand Industry Leader’s Address

Posted on 30 September 2019

2019 New Zealand Petroleum Conference

Andrew Jefferies, Chief Executive, New Zealand Oil and Gas
10:30am Monday, 30 September 2019

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Special Meeting - Independent Directors Unanimously Recommend Scheme Of Arrangement

Posted on 9 September 2019

A special meeting of New Zealand Oil & Gas shareholders will be held on Wednesday, 16 October to vote on a court-approved scheme of arrangement.

O.G. Oil & Gas (Singapore) Pte. Ltd. proposes to acquire all the shares in New Zealand Oil & Gas that it does not already own for a cash payment of NZ$0.62 per fully paid ordinary share.

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Initial court orders received for Scheme of Arrangement

Posted on 5 September 2019

Initial orders have been received from the High Court for the New Zealand Oil & Gas scheme of arrangement.

The court has ordered a special meeting of New Zealand Oil & Gas shareholders to be held to consider and vote on the proposed scheme of arrangement with O.G. Oil & Gas (Singapore) Pte. Ltd. ("OGOG").

 

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FID For Kupe Production Installation

Posted on 28 August 2019

A final investment decision for a compression installation project has been approved by partners in
the Kupe joint venture.

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New Zealand Oil & Gas FY19 Loss Of $2.9 Million

Posted on 27 August 2019

New Zealand Oil & Gas has recorded a net loss of NZ$2.9 million for the year ended 30 June 2019 compared to a net profit in the previous year of NZ$4.8 million.

The net loss attributable to shareholders of New Zealand Oil & Gas was $7.5 million, compared to a net profit of $0.8 million last year.

Revenue for the 2018-19 year was $43.3 million, up from $35.8 million in the prior corresponding period.

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Kupe Production Off Plateau

Posted on 2 August 2019

Production from the Kupe gas fields is off plateau, the joint venture has advised.

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New Zealand Oil & Gas Recommends Scheme of Arrangement With O.G. Oil & Gas at $0.62 Cash Per Share

Posted on 10 July 2019

  • Scheme price agreed at $0.62 per share in cash for all of the approximately 30 per cent of New Zealand Oil & Gas fully paid ordinary shares that O.G. Oil & Gas does not already own.
  • Price is a 25% premium to Tuesday’s closing price.
  • Independent directors unanimously recommend shareholders vote in favour of the scheme, subject to the independent adviser's report concluding that $0.62 per share is within or above its valuation range.

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Ironbark Title Transfers Approved

Posted on 23 May 2019

Cue Energy has announced that approval has been received for title transfers of exploration permit WA-359-P, which contains the giant Ironbark gas prospect, to new joint venture partners BP Developments Australia Pty Ltd, Beach Energy Limited and New Zealand Oil & Gas. Cue’s announcement is attached.

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