Octanex snares hat-trick in New Zealand

Australian Securities Exchange-listed Octanex has put pen to paper on deals that will see New Zealand Oil & Gas farm into three of Octanex's permits in the Taranaki Basin, New Zealand.

The three permits are PEP 51906, 53473, and 52593.

At PEP 51906, NZOG has agreed to a three-tranche payment of $US12.5 million ($A11.9 million) for a 12.5% stake in the permit.

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