Red Sky will purchase Bengal Energy’s 25% stake in PRL 182, one of six permits that make up the project, completing its acquisition of 100% interest in all six, the company statement added.
“Only nominal consideration of AUD 1 [USD 0.71] is payable by Red Sky for the licence to be acquired,” Red Sky said. “However, Red Sky will be responsible for discharging all obligations arising in respect of the assets purchased […] including all liabilities relating to the decommissioning, abandonment, rehabilitation, remediation or restoration of those assets.”
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