29 October 2013
Origin completes sale of TAWN assets
Origin Energy Limited (Origin) today announced the formal completion of the divestment of its Tariki, Ahuroa, Waihapa and Ngaere (TAWN) licences, as well as the Waihapa Production Station and associated gathering and sales infrastructure in New Zealand, to New Zealand Energy Corp (NZEC). In a related transaction, NZEC transferred the Ahuroa licence to Contact Energy.
All conditions associated with the Sale and Purchase Agreement have been satisfied.
Origin's sale consideration is CDN$30 million plus a 9 per cent royalty payable on all future hydrocarbon production from the Tariki, Waihapa and Ngaere licences.
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