logo-loader

Carnarvon Petroleum granted halt, to update divestment of Thai assets

Last updated: 21:30 17 Feb 2015 AEDT, First published: 22:30 17 Feb 2015 AEDT

thailand_assets_358_54e3c97c71d0d

Carnarvon Petroleum (ASX:CVN) has been granted a trading halt by the Australian Stock Exchange pending an announcement in relation to the completion of the divestment of its Thailand oil production assets.

This was announced on the 4th December 2014.

At the time Carnarvon reached an agreement to sell its remaining 20% interest in the Thailand oil production concessions to the Netherlands company Berlanga Group for US$58.2 million (A$68.5 million) in cash.

This allows Carnarvon to focus on its North West Shelf acreage offshore Western Australia, where an extensive work program is expected to be carried out in 2015.

The halt will remain in place until the opening of trade on Thursday 19th February 2015, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Carnarvon Energy says core focus is on Dorado FID

  Carnarvon Energy Ltd (ASX:CVN) MD Adrian Cook tells Proactive that delivery of the Dorado Phase 1 liquids development in the Bedout sub-basin offshore Western Australia is a core focus for the company with its primary drivers being lowest capital cost and shortest timeframe to first...

on 24/10/23