Horizon Oil Says Northern Territory Authorities Agree To Extend Deadline For Execution Of Binding Gas Sales Agreement

MT Newswires Live03-03 07:24

Horizon Oil (ASX:HZN) and its Mereenie joint venture partners agreed with Northern Territory's Power and Water Corporation to extend the deadline to execute a binding gas sales agreement to March 24 from Monday, according to a Tuesday Australian bourse filing.

Horizon and its joint venture partners had entered a binding letter of intent with Northern Territory's Power and Water Corporation to document and execute gas supply agreements consistent with conditional gas supply term sheets that will see uncontracted firm gas production from Mereenie sold through to 2034.

Horizon has a 25% stake in the Mereenie field, along with other joint venture participants, Central Petroleum, Echelon Mereenie, Horizon Australia Energy, and Cue Mereenie.

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