One-Page Deal Sheet
TAG Oil to Sell Australia Portfolio to Luco Energy
Luco Energy Pty. Ltd. TAG Oil Ltd.
Announced Date
October 14,2020
Close Date
October 30,2020
Transaction Type
Property
Enterprise Value (EV)($MM)
2
Asset/Basin:
["Surat Basin"]
TargetZones:
[]
Transaction Details: Subscribe to see
TAG Oil Ltd. has agreed to sell its Australian assets and operations to Australian-based Luco Energy Pty. Ltd., a company owned by Ilwella Pty. Ltd. and AJ Lucas Services, for A$2.5 million (US$1.8 million).
This is an arm's length transaction that involves the sale by TAG Oil of the shares of its Australian subsidiary, Cypress Petroleum Pty Ltd., which holds the Company's 100% working interests in PL 17, ATP 2037, and ATP 2038 located in the Surat Basin of Queensland, Australia to Luco.
Formal closing of the Transaction is expected in calendar Q4 2020.
Abby Badwi, Executive Chairman of TAG…
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Dec-08-2021 |
-  |
- |
Click here | E&P | |
| Dec-18-2019 |
- |
- |
Click here | E&P | |
| Oct-14-2019 |
- |
- |
Click here | E&P | |
| Oct-01-2018 |
- |
- |
Click here | E&P | |
| Aug-22-2018 |
- |
- |
Click here | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Aug-22-2018 | Santos Acquires Aussie E&P Quadrant in $2.8B Deal | - |
- |
| Oct-31-2016 | TAG Oil Acquires PL 17 in Australia's Surat Basin | - |
- |