Sasol Limited - Sasol Welcomes Progress Energy As A New Partner In The Development Of The Montney Basin Shale Gas AssetsRelease Date: 17/12/2013 07:32:00 Code(s): SOL SOLBE1
(Incorporated in the Republic of South Africa)
(Registration number 1979/003231/06)
Sasol Ordinary Share codes: JSE : SOL NYSE : SSL
Sasol Ordinary ISIN codes: ZAE000006896 US8038663006
Sasol BEE Ordinary Share code: JSE : SOLBE1
Sasol BEE Ordinary ISIN code: ZAE000151817
SASOL WELCOMES PROGRESS ENERGY AS A NEW PARTNER IN THE
DEVELOPMENT OF THE MONTNEY BASIN SHALE GAS ASSETS
On 8 November 2013, Sasol?s partner, Talisman Energy Inc
(Talisman), announced that it had reached an agreement to sell
part of its Montney acreage in northeast British Columbia to
Progress Energy Canada Ltd (Progress Energy) for a total cash
consideration of CDN$1,5 billion.
In terms of Sasol?s existing agreement with Talisman, Sasol
has a right to match the Progress Energy bid, also known as a
right of first refusal, within 30 days of the notice from
Talisman, which was received effective 18 November 2013.
Sasol has evaluated this opportunity taking into
consideration, among others, its other available investment
opportunities and has taken the decision not to exercise its
right of first refusal.
Sasol welcomes Progress Energy as its new partner and looks
forward to forging a solid working relationship in the
development of the Montney Basin shale gas assets. Progress
Energy is a wholly owned subsidiary of Malaysian national oil
and gas company, Petroliam Nasional Berhad (PETRONAS), with
which Sasol has a longstanding relationship.
17 December 2013
Sponsor: Deutsche Securities (SA) Proprietary Limited
Date: 17/12/2013 07:32:00 Supplied by www.sharenet.co.za
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