Bass Oil negotiates extension terms for acquisition of Indonesian oil field
Bass Oil Limited says it has negotiated an extension of its settlement terms with Cooper Energy for the acquisition of its 55% interest in the Tangai-Sukananti KSO in South Sumatra.
Under the agreed new payback terms, the timetable for a third payment of $500,000, due 30 September this year, has been deferred until 31 March next year.
The fourth and final payment of $770,000, due to be paid by Bass to Cooper Energy by 31 December this year, has now been deferred until 30 June...