L&M trims again

CASH-strapped L&M Energy is slimming down again, surrendering its interest in the offshore Taranaki exploration Kaheru lease just two weeks after its chairman Geoff Loudon lent it $A5 million to help keep the junior explorer afloat.

The news of L&M's exit from the permit comes hot on the heels of operator Roc Oil's withdrawal from the same licence, PEP 52181.

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