NuEnergy completes acquisition of Dart Energy (Indonesia) Holdings

NuEnergy Gas Ltd., an Australian gas and ancillary power-generation development company focused on unconventional gas exploration and production in Indonesia, referred Monday to its announcement dated May 20 in relation to the signing of a conditional share purchase agreement (SPA) with Dart Energy International Ltd. (the vendor) on May 20 to acquire 100% of the issued share capital of Dart Energy (Indonesia) Holdings Pte Ltd. (DEIH).

All the conditions precedent have been met and the balance of the purchase consideration of $500,000 was paid to the vendor on Nov. 20. In this regard, the proposed acquisition has been completed on Nov. 20.

Additionally, the exploration period for the Tanjung Enim PSC was extended for an additional period of four years from Aug. 4, 2015, to Aug. 3, 2019.

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