Proposed Acquisition of Central Petroleum Amadeus Assets

New Zealand Oil & Gas Group agrees to purchase interests in 3 producing Northern Territory assets from Central Petroleum. Agreement is subject to conditions, including shareholder approval. 14.5mmboe increase in 2P reserves; a near 5 times increase.* Cash payment of A$29m, adjusted for revenues and costs from 1 July 2020, and development carry capped at A$40m. New Zealand Oil & Gas to acquire 70%, Cue Energy (New Zealand Oil & Gas 50.04% owned subsidiary) to acquire 30%. For further information please contact the Company on: email enquiries@nzog.com phone +64 4 495 2424 End CA:00372751 For:NZO Type:MKTUPDTE Time:2021-05-25 08:30:56