Sale of US & Cooper Basin Assets
New Standard Energy Limited has reached an agreement with Sundance Energy Ltd for the sale to Sundance of New Standard’s United States and Cooper Basin assets for total consideration of approximately A$24M. Under the Share and Asset Sale Agreement signed with Sundance, Sundance will directly acquire New Standard’s Colorado County Project in the US and will indirectly acquire its Atascosa Project and interest in Cooper Basin permit PEL 570 through the purchase of New Standard’s relevant subsidiaries…
New Standard Energy Impacted by Low Oil Price
New Standard Energy Limited provides an update on its active management of the Company’s activities in the current low oil price environment. The Company’s growth plans and focus on the US have clearly been impacted by low oil prices and their effect on the oil industry’s commercial landscape. The Company continues to concentrate on reducing operational and corporate costs as well as managing its capital…
