Page 15 - AsianOil Week 37

AsianOil NEWS IN BRIEF AsianOil

Petronas group of companies have paid the Vietnam for a nominal cash consideration. Company’s Joint Provisional Liquidators to
Sarawak State Sales Tax for year 2019. The Further to the Announcements, the act as the Joint Official Liquidators of GDG.
payment represents Petronas’ full and final Company wishes to announce that while The Petition is listed to be heard on 13 and 14
settlement for the sales tax for the year 2019 parties are actively working towards the October 2020.
and is evidence of Petronas’ commitment fulfilment of conditions precedents under the GDG, in which the Company invested
towards achieving commercial resolution. The farm-out agreement, the Transferor and the $342m, is an intermediate holding company
payment for year 2020, will be made upon Transferee have mutually agreed in writing of all the Group’s producing assets which
assessments by the Sarawak Comptroller of to extend the long stop date to 31 December specifically include the GSS (Shizhuang
State Sales Tax. 2020, or such later date as may be agreed in South) and GCZ (Chengzhuang) blocks in
This is a significant milestone following writing between parties. Shanxi province in partnership with CNOOC
Petronas’ withdrawal of the appeal against the Shareholders, noteholders and potential and CNPC respectively.
judicial review decision and also Sarawak’s investors of the Company should exercise The Chairman and CEO of the Company,
withdrawal of the civil action on the Sarawak caution when dealing in the Company’s Randeep S. Grewal, commented: “The Board
Sales Tax. securities. Stakeholders and potential investors of the Company is in support of the relief
Petronas is committed to work with the who are in doubt as to the action they should sought in the Petition and expects such action
Sarawak State Government in strengthening take should consult their stockbrokers, bank to provide the Company’s stakeholders with
the Sarawak oil and gas sector towards the managers, solicitors, accountants or other fair market returns upon the sale of GDG
creation of a stable and conducive business professional advisors. assets.”
and investment environment for future KRISENERGY, September 16, 2020 G3 EXPLORATION, September 11, 2020
growth.
PETRONAS, September 17, 2020
EAST ASIA OCEANIA
KrisEnergy updates on G3 Exploration provides Warrego securities

Block 115/09 farm-out corporate update suspended from official
extension The Company has been informed that a

KrisEnergy, an upstream oil and gas winding up petition (the “Petition”) has been quotation
company, refers to its announcements presented by GIC Limited to the Grand Court The securities of Warrego Energy Limited will
dated 14 February 2020 and 19 June 2020 of the Cayman Islands seeking the winding be suspended from quotation immediately
in relation to the entry by its wholly-owned up of Green Dragon Gas Limited (“GDG”). under Listing Rule 17.3, pending release of
subsidiary, KrisEnergy (Vietnam 115) Ltd. GDG is a wholly owned subsidiary of Greka an announcement regarding the outcome of
(“Transferor”), into a farm-out agreement Gas China Limited (“GGC”), which in turn is a court application in connection with the
with a major international oil and gas a wholly owned subsidiary of the Company. timing of lodgement of a cleansing prospectus.
company (“Transferee”) for the transfer of The Petition seeks the winding up of GDG The securities will remain suspended until
its entire 100% working interest in the Block on the ground that it is unable to pay its court orders are granted.
115/09 production sharing contract, offshore debts on a cash flow basis, and nominates the WARREGO ENERGY, September 17, 2020

Week 37 17•September•2020 www. NEWSBASE .com P15