OTHERS HANDAL RESOURCES BERHAD ("HRB" or the Company) - UPDATE ON THE STATUS OF COLLABORATION AGREEMENT WITH MEO AUSTRALIA LIMITED

HANDAL RESOURCES BERHAD

Type Announcement
Subject OTHERS
Description
HANDAL RESOURCES BERHAD ("HRB" or the Company)
-	UPDATE ON THE STATUS OF COLLABORATION AGREEMENT WITH MEO AUSTRALIA LIMITED

Reference is made to the Company’s announcement dated 3 July 2013 (Reference No. CA-130703-56026). 

The Board of Directors of HRB wishes to announce that the Collaboration Agreement entered into between the Company and MEO Australia Limited (“MEO”) to set out the respective parties rights, interest and obligations in the collaboration to consolidate each parties’ expertise in the area of marginal oil and gas field development to pursue and thereafter to enter into a Risk Service Contract (“RSC”) agreement with PETRONAS (“the Project”) has ceased to have any effect as both parties have decided not to pursue the collaboration in relation to the Project due to local current market condition and PETRONAS deferment of RSC for marginal fields.

This announcement is dated 22 June 2015.

 






Announcement Info

Company Name HANDAL RESOURCES BERHAD
Stock Name HANDAL
Date Announced 22 Jun 2015
Category General Announcement for PLC
Reference Number GA1-22062015-00020