O.G. Oil & Gas’ Partial Takeover Offer For New Zealand Oil & Gas is Unconditional

O.G. Oil & Gas (Singapore) Pte. Ltd. (“OGOG”) announced today that all conditions to its partial takeover offer for New Zealand Oil & Gas Limited are either satisfied or waived. OGOG will acquire 67.55% of the New Zealand Oil & Gas shares it does not already own or control on or before Friday, 19 January 2018.

Eyal Ofer, Chairman of Ofer Global, said:
“I’m absolutely delighted that the offer has succeeded and that we can focus our energies on the future of New Zealand Oil & Gas. We’ve always believed that the Ofer Global Group and New Zealand Oil & Gas will make a great team. We are confident that together we can achieve exciting things and bring real value to shareholders, to New Zealand and to the entire region.”

Alastair McGregor, Chief Executive of OGOG, said:
“We started this process four months ago because we were convinced that we could help New Zealand Oil & Gas unlock its many great opportunities. In that time, our conviction has only strengthened. We look forward to working with New Zealand Oil & Gas’ outstanding team and we are thrilled to have the opportunity to contribute to the company’s bright future.”

The Offer period closed on 8 January 2018. As of today, OGOG has received acceptances for 72.581% of the fully paid ordinary shares it does not already own or control and for 58.798% of the partly paid shares. As a result, the acceptances in respect of the fully paid ordinary shares will be subject to scaling in accordance with the offer document.

Payment and acquisition of shares will occur on or before Friday, 19 January 2018 in accordance with the Takeovers Code.

O.G. Oil & Gas

O.G. Oil & Gas was established to hold the Group’s oil & gas exploration and production field interests. This is undertaken through both direct participation in exploration and production licenses as well as through strategic shareholdings in established oil & gas companies, such as New Zealand Oil & Gas Limited.

Through O.G. Oil & Gas, the Group owns exploration and production interests (onshore & offshore) in the Australasia and South East Asia region. The Group is also a global leader in the provision of FSO and FPSO units to the offshore oil and gas industry through Omni Offshore Terminals.

The Group’s oil and gas interests cover the full spectrum of fossil fuel activities ranging from green field exploration to full field development and production. The Group utilizes its expertise not only for its own field interests but also for those of third party oil companies.

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