Nahanni currently holds a 30.67% ownership in the Kotaneelee gas facility and certain proven and producing gas fields.
The MoU is subject to customary contingencies, including, but not limited to, the completion of due diligence, financial statement audit and definitive documentation.
EFL Overseas president Herbert Schmidt said that the company is excited about the long term potential of the Kotaneelee area, including the pursuit of other possible opportunistic acquisitions in the area.”
