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BRIEF-Nuenergy Gas Signs Agreement With Saujana E&P

Published 02/04/2019, 10:08 am
Updated 02/04/2019, 10:10 am
© Reuters.  BRIEF-Nuenergy Gas Signs Agreement With Saujana E&P

© Reuters. BRIEF-Nuenergy Gas Signs Agreement With Saujana E&P

April 2 (Reuters) - Nuenergy Gas Ltd NGY.AX :

* SIGNS INVESTMENT AGREEMENT WITH SAUJANA E&P TO FUND INDONESIAN COAL BED METHANE PRODUCTION SHARING CONTRACT PROGRAMS

* SAUJANA E&P IS TO PAY $7 MILLION DEPOSIT TO COMPANY WITHIN 14 BUSINESS DAYS FROM EXECUTION OF AGREEMENT

* SAUJANA E&P TO TAKE UP A STRATEGIC INVESTMENT IN CO VIA A SHARE PLACEMENT WITH A TOTAL SUBSCRIPTION VALUE OF $38.5 MILLION

* SAUJANA E&P'S INVESTMENT IS FOR 1.54 BILLION SHARES OR 51% SHARE CAPITAL OF CO

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