sale by santos to Magellan of Evans shoal collapses

摘要

Sydney-The proposed sale by Santos of its 40% interest in the Evans Shoal gas field in Australia's Timor Sea to US-based Magellan Petroleum has fallen through, the company said June 1. Magellan agreed to buy the stake in Evans Shoal from Santos in March 2010 for a payment of A$100 million ($107 million) cash on completion, with further payments of A$50 million due when a final investment decision on a development was made and again when first gas production occurred from the NT/P48 permit that covers the Bonaparte Basin field.