One-Page Deal Sheet
NZEC Picks Up JV Partner for New Zealand Shale Development
L & M Energy Ltd. New Zealand Energy Corporation
Announced Date
July 30,2013
Close Date
October 28,2013
Transaction Type
JV
Enterprise Value (EV)($MM)
18
Transaction Details: Subscribe to see
New Zealand Energy Corp. has signed a binding Letter Agreement with L&M Energy Limited whereby LME will pay NZEC C$18.25 million to form a 50/50 joint venture to explore, develop and operate the Tariki, Waihapa and Ngaere Petroleum Mining Licenses (TWN Licenses), the Waihapa Production Station and associated pipelines and infrastructure.
The parties intend to finalize the definitive agreements shortly with the objective of closing the transaction contemporaneously with closing of the acquisition of the assets from Origin Energy Resources NZ (TAWN) Ltd. NZEC will become the operator of the TWN…
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