Court Orders Dome to Transfer Final 20% of Reid’s Dome Project PL 231 to State Gas

Brisbane-based gas developer State Gas Limited (ASX:GAS) is pleased to advise on the outcome of proceedings in the Supreme Court of Queensland in respect of its acquisition of the final 20% interest in PL 231 and the Reid’s Dome Joint Venture.

Highlights

  • State Gas Limited successful in Supreme Court action to acquire final 20% interest in Reid’s Dome.
  • Court order made 16 September 2019 requiring Dome Petroleum Resources Plc (Dome) to execute transfer of its remaining 20% interest in PL 231.
  • The provisions of the JOA executed in February 2017 fix the price for the acquisition of the 20% interest at $233,333.
  • Dome ordered to pay the costs of State Gas on an indemnity basis.

Source / More : abnnewswire.net

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