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New Standard Energy Ltd announces acquisition of subsidiaries

Tuesday, 21 Jan 2014 04:31am EST 

New Standard Energy Ltd:Says that it has completed the acquisition of all of the shares in Outback Energy Hunter Pty Ltd (OEH) and Pathfinder Onshore Energy Pty Ltd (POE).Says OEH and POE are now wholly owned subsidiaries of the company.Says OEH has the right to acquire a 52.5pct operated equity in exploration permit PEL 570 in the Cooper Basin held by Ambassador Oil and Gas Ltd through a farm-in agreement with AQO to spend A$42.5 mln over the life of the permit. 

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