Microsoft Word - ASX Announcement - ATP 1056 Pre-emtpive Rights
For Immediate Release - 15 September 2015
Ref. #053/15
ASX Ltd
Companies Announcement Office Electronic Lodgement System
Dear Sir,
EXERCISE OF PRE‐EMPTIVE RIGHTS IN RELATION TO ATP 1056
As announced on 11 August 2015, Beach Energy Limited (ASX: BPT, 'Beach') entered into an agreement to acquire a 40% participating interest in the ATP 1056 joint venture from AGL Cooper Basin Pty Ltd, a subsidiary of AGL Energy Limited (ASX: AGL, 'AGL'). The agreement included a condition that Beach be appointed as operator of the joint venture.
Completion was subject to satisfaction of certain other conditions precedent, including waiver or non‐exercise of pre‐emptive rights held by existing joint venture parties. Subsequent to announcement, Beach has been advised by AGL that pre‐emptive rights have been exercised by certain of the existing joint venture parties.
Completion of the assignment of AGL's participating interest to these existing joint venture parties is subject to certain conditions precedent. Should these conditions be satisfied, the agreement with AGL to acquire the 40% participating interest in the ATP 1056 joint venture will be terminated.
Yours sincerely,
Neil Gibbins
Acting Chief Executive Officer
For more information please contact the following on +61 8 8338 2833: Corporate
Neil Gibbins Acting Chief Executive Officer
Chris Jamieson Group Executive External Affairs
Investor Relations
Derek Piper Investor Relations Manager
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