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Karoon Energy Announces Termination of Exclusivity Agreement with Enauta Energia S.A

23 May 2022  |  10:14:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Termination of Exclusivity Agreement with Enauta Energia S.A

Karoon Energy announced that it has provided notice to Enauta Energia S.A. to terminate the Exclusivity Agreement entered into to undertake due diligence and negotiations in connection with potentially acquiring a 50% non-operated interest in the Atlanta oil field, Santos basin, offshore Brazil. It has also withdrawn its conditional, non-binding and incomplete offer in respect of the potential transaction. The Company was unable to complete the necessary due diligence and conclude negotiation of acceptable terms in respect of the potential transaction during the agreed exclusivity period.

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