| Indonesian Government Approval 02 May 2016 | |
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d7ba0f23-6b39-46c5-b49e-bd6e68f56bc4.pdf
2 May 2016
Approval received for sale of Indonesian exploration assets
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Sumbagsel and Merangin III PSCs sale now unconditional
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Completion expected within early June 2016
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Bids for remaining Indonesian asset being evaluated
Cooper Energy (ASX:COE) announces it has received approval from the Government of Indonesia for the sale of its Indonesian exploration assets to Mandala Energy Investment Pte Ltd ("Mandala"), as announced to the ASX February 10, 2016. The receipt of approval satisfies conditions precedent to the transaction, which is now expected to complete within early June 2016.
The transaction involves the sale of Cooper Energy's interests in the Sumbagsel and Merangin III PSCs located in the South Sumatra Basin for consideration of US$8.25 million.
Cooper Energy is currently evaluating bids received for its remaining Indonesian asset, the Tangai-Sukananti KSO production licence. The company previously announced its intention to withdraw from Indonesia in order that resources and focus are concentrated on its growth projects developing Gippsland Basin gas resources.
Further comment and information
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Cooper Energy:
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+61 8 8100 4900
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David Maxwell, Managing Director
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Don Murchland, Investor Relations
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+61 439 300 932
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About Mandala Energy: Mandala is a South East Asia-focused oil and gas exploration and production company backed by leading global investment firm KKR. KKR partnered with Mandala in early 2015 to bring complementary technical and financial capability to regional independent and national operators across the exploration, development and production spectrum in order to drive portfolio growth and maximize asset potential.
Cooper Energy Limited Level 10, 60 Waymouth Street Phone: +61 8 8100 4900 [email protected] 1
ABN 93 096 170 295 Adelaide, South Australia 5000 Fax (Aust): +61 8 8100 4997 www.cooperenergy.com.au
ASX: COE GPO Box 1819, Adelaide SA 5001
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Cooper Energy
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CODE : COE.AX |
ISIN : AU000000COE2 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Cooper Energy is based in Australia. Cooper Energy holds various exploration projects in Tunisia. Its main exploration property is NABEUL in Tunisia. Cooper Energy is listed in Australia and in Germany. Its market capitalisation is AU$ 207.5 millions as of today (US$ 142.8 millions, € 127.7 millions). Its stock quote reached its highest recent level on April 13, 2012 at AU$ 0.69, and its lowest recent point on November 12, 2023 at AU$ 0.09. Cooper Energy has 1 140 189 952 shares outstanding. |