StockMarketWire.com - Oil and gas company Jadestone Energy said it expected to complete the acquisition of a 69% operated interest in the Maari asset, New Zealand, in the second half of 2021, as it worked toward meeting the conditions for the sale.

'The company has continued working with the seller, OMV New Zealand Limited to satisfy the remaining outstanding conditions to complete the acquisition, in particular the approval of New Zealand Petroleum & Minerals,' the company said.

'In parallel with the NZP&M discussions, the Company is in discussions with OMV New Zealand and expects to extend the long stop date under the Maari sale and purchase agreement, which is currently set at 30 June 2021,' it added.

Updated production guidance would be issued in due course, accounting for a 'revised expectation on timing to close the Maari asset acquisition and the positive impact of the acquisition of the SapuraOMV Peninsular Malaysia assets announced on 30 April 2021,' the companys aid.


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