TAG Oil sells New Zealand royalty interests for USD 2.5 mn to fund 2025
TAG Oil has signed a definitive agreement to sell its royalty interests in New Zealand, aiming to strengthen its cash position ahead of its planned investments for 2025.
| Countries | Égypte, Nouvelle-Zélande |
|---|---|
| Sector | Pétrole |
| Theme | Investissements & Transactions, Financement, Développement de projets |
TAG Oil Ltd., a Canadian company listed on the TSX Venture Exchange, announced it has entered into a definitive agreement to sell its oil royalty interests in New Zealand to an unrelated third party. The transaction, concluded on April 7, includes an upfront payment of USD 2.2 mn, which incorporates a non-refundable deposit of USD 50,000, and potential milestone payments of up to USD 300,000 by the end of 2027.
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