The parties have agreed that the Share Purchase Agreement shall now be contingent upon confirmation of a farmout agreement with PNOC, as soon as is practicable
Sacgasco provides update on sale of Nido Petroleum and Yilgarn Petroleum Philippines. (Credit: D Thory from Pixabay)
Sacgasco Limited (ASX:SGC)(“Sacgasco” or “the Company”) provides the following update regarding the sale of Sacgasco’s wholly owned subsidiaries Nido Petroleum Pty Ltd and Yilgarn Petroleum Philippines Pty Ltd. (together referred to as “Nido”).
Sacgasco advises that it has agreed with Blue Sky International Holdings to amend the Condition Precedent contained within the Share Purchase Agreement of reaching confirmation of a farmout agreement with the PNOC Exploration Corporation (“PNOC”) by 15 August 2023.
The parties have agreed that the Share Purchase Agreement shall now be contingent upon confirmation of a farmout agreement with PNOC, as soon as is practicable.
The Company confirms there have been no other amendments to the original sale agreement announced 26 July 2023.
Source: Company Press Release