Cue's acquisition in RI

Thu, 10 Apr 1997 | Source: REUTERS

WELLINGTON (Reuter): Shareholders in New Zealand exploration company Cue Energy Resources have voted to approve a plan to raise NZ$8.0 million through a placing of shares by ANZ Corporate Services, Cue said yesterday.

The company said in a statement the placement was to facilitate its acquisition of a 40 percent stake in Tanjung Jabung Production Sharing Contract (PSC) in South Sumatra, Indonesia, and fund exploration in this for the next two years.

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