The company will get cash consideration of $7.32m upon closing of the transaction, plus deferred cash consideration of $17.5m payable upon any subsequent change of control of the project or following its first gas delivery.
The proposed sale is subject to the execution of definitive documentation and government approvals, which are expected within the next 60 days.
Sonde Resources is a diversified global energy company engaged in the exploration and production of oil and natural gas.
