Brief: Tag Announces Sale Of New Zealand Assets And Operations

TAG Oil

06/11/2018 21:27

Nov 6 (Reuters) - TAG Oil Ltd  TAO.TO :
    * TAG ANNOUNCES SALE OF NEW ZEALAND ASSETS AND OPERATIONS
    * TAG OIL LTD - CASH PAYMENT TO TAG OF US$30 MILLION AT
CLOSING
    * TAG OIL LTD - TRANSACTION WILL BE FUNDED FROM TAMARIND'S
AVAILABLE FINANCIAL RESOURCES
    * TAG OIL LTD - TAG TO RECEIVE A 2.5% GROSS OVERRIDING
ROYALTY ON
FUTURE PRODUCTION FROM ALL NZ ASSETS
    * TAG OIL - CO, CERTAIN OF ITS NEW ZEALAND UNITS ENTERED
INTO
SHARE & ASSET PURCHASE AGREEMENT WITH TAMARIND RESOURCES AND
CERTAIN OF ITS UNITS
    * TAG OIL LTD - TRANSACTION IS FOR SALE OF SUBSTANTIALLY ALL
OF
TAG'S TARANAKI BASIN ASSETS AND OPERATIONS IN NEW ZEALAND

Source text for Eikon:  ID:nCNW0VV4Wa 
Further company coverage:  TAO.TO 

 ((Reuters.Briefs@thomsonreuters.com;))