Genesis (ASX:GNE) launches strategic review of Kupe holding - Sequoia Direct Pty Ltd

27NovNovember 27, 2020

Genesis (ASX:GNE) launches strategic review of Kupe holding

New Zealand energy company, Genesis Energy (ASX:GNE) today announces that it is undertaking a strategic review to determine whether to sell or retain its interest in Kupe.

Genesis owns a 46 per cent stake in the Kupe oil and gas field.

The joint venture is considering further development, including drilling an additional well and further exploration, which would change the risk and opportunity profile of the asset for Genesis.

The company says the asset has attractive cash flow and a strong growth outlook but that it needs to consider whether there are capital investment opportunities which are more strategically aligned with its goals.

RBC Capital Markets have been appointed to assist with the review. The outcome of the review is expected to be communicated in mid 2021.

Shares in Genesis Energy (ASX:GNE) last traded at $3.09.

Copyright 2020 – Finance News Network

Source: Finance News Network

Related Posts

07AprApril 7, 2021

Imugene (ASX:IMU) to proceed to final dose cohort for lung cancer treatment

07 Apr 2021 - $620 million cancer treatment provider Imugene (ASX:IMU) has announced that an independent team of researchers have certified that lung cancer drug PD1-Vaxx is safe for human use at 50 micrograms.

09JanJanuary 9, 2020

Catapult Group International (ASX:CAT) sign deal with a Colombian professional football league

09 Jan 2020 - Catapult Group International (ASX:CAT) has signed a deal with DIMAYOR, a Colombian professional league for association football clubs.

23DecDecember 23, 2020

Ingenia Communities Group (ASX:INA) acquisition of a NSW caravan park

23 Dec 2020 - Ingenia Communities Group (ASX:INA) today announced the acquisition of Merry Beach Caravan Park for $20.5 million.

16AprApril 16, 2021

Origin Energy (ASX:ORG) loses pricing appeal against Beach Energy (ASX:BPT)

16 Apr 2021 - Power supplier Origin Energy (ASX:ORG) has lost its appeal against oil and gas explorer Beach Energy (ASX:BPT)’s pricing of gas and wholesale electricity.

10JanJanuary 10, 2024

Stocks of the Hour: Gladiator Resources, Kali Metals, Emyria

10 Jan 2024 - A snapshot of the stocks on the move, featuring Gladiator Resources, Kali Metals and Emyria.

20MarMarch 20, 2020

Brickworks (ASX:BKW) to close five plants in Pennsylvania

20 Mar 2020 - Brickworks (ASX:BKW) is to close five of their 12 plants currently in operation in Pennsylvania after the Governor ordered all non-life-sustaining businesses to close.

18FebFebruary 18, 2020

BHP (ASX:BHP) see a rise in profit, increase dividend

18 Feb 2020 - BHP (ASX:BHP) has reported a 29 per cent increase in half-year profit to $US4.9 billion, that’s $7.30 billion AUD.

11MayMay 11, 2022

Sector Watch: Healthcare – M&A fever on the cards?

11 May 2022 - A snapshot of stocks in the healthcare sector, including Antisense Therapeutics (ASX:ANP), Kazia Therapeutics (ASX:KZA), and Immutep (ASX:IMM).

07JunJune 7, 2024

Stocks of the Hour: PYC Therapeutics, Caprice Resources, Walkabout Resources

07 Jun 2024 - A snapshot of the stocks on the move, featuring PYC Therapeutics (ASX:PYC), Caprice Resources (ASX:CRS) and Walkabout Resources (ASX:WKT).

28AprApril 28, 2020

Select Harvests (ASX:SHV) report 97% of orchards have been harvested

28 Apr 2020 - Select Harvests (ASX:SHV) report that 97 per cent of their orchards have been harvested and that 90 per cent of the crop was harvested in near perfect conditions.