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BRIEF-Tag Oil Announces Agreement With Luco Energy To Divest Australian Assets And Operations

Published 2020-10-14, 11:58 a/m
Updated 2020-10-14, 12:00 p/m

Oct 14 (Reuters) - TAG Oil Ltd TAO.V :

* TAG OIL ANNOUNCES SALE OF AUSTRALIAN ASSETS AND OPERATIONS

* TAG OIL LTD - DEAL PROVIDES CASH PAYMENT TO TAG OIL OF A$2.5 MILLION AT CLOSING

* TAG OIL LTD - TRANSACTION WILL BE FUNDED FROM LUCO'S AVAILABLE FINANCIAL RESOURCES

* TAG OIL - AGREEMENT WITH LUCO ENERGY PTY, OWNED BY ILWELLA PTY. LTD. AND AJ LUCAS SERVICES, TO DIVEST ITS AUSTRALIAN ASSETS AND OPERATIONS

* TAG OIL LTD - ENTERED DEFINITIVE PURCHASE AND SALE AGREEMENT WITH LUCO ENERGY TO DIVEST ITS AUSTRALIAN ASSETS AND OPERATIONS

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