Thursday, 22 February 2018

Announcement

TRANSACT: NZO: O.G. Oil & Gas Meets Minimum Acceptance Threshold

12 Dec 2017 09:05NZX
O.G. OIL & GAS MEETS MINIMUM ACCEPTANCE THRESHOLD IN ITS
PARTIAL TAKEOVER OFFER FOR NEW ZEALAND OIL & GAS

12 December 2017

O.G. Oil & Gas (Singapore) Pte. Ltd. ("OGOG") has received acceptances under
its partial takeover offer which, together with its current shareholding in
New Zealand Oil & Gas Limited ("New Zealand Oil & Gas"), means that Eyal
Ofer''s OGOG has met the minimum acceptance threshold under its partial
takeover offer.

Those acceptances when combined with our current shareholding in New Zealand
Oil & Gas total more than 62% of New Zealand Oil & Gas''s fully paid ordinary
shares currently on issue. The acceptances include the shares held or
controlled by Zeta Energy Pte Limited ("Zeta") or affiliated entities. Zeta,
which holds approximately 17% of New Zealand Oil & Gas''s fully paid ordinary
shares currently on issue, has accepted OGOG''s offer for 100% of its shares.

Alastair McGregor, Chief Executive of OGOG, said: "We are delighted to have
secured the shareholder support we need for our offer to be successful. This
is an important milestone for New Zealand Oil & Gas, for OGOG and for the
broader Ofer Global Group. We are looking forward to getting to work."

OGOG is offering to acquire up to 67.55% of the New Zealand Oil & Gas shares
it does not already hold or control at a price of 74 cents per fully paid
share.

The offer period will close on 8 January 2018. The offer remains subject to
customary conditions, including OGOG obtaining any consents required under
the Overseas Investment Act 2005 and Overseas Investment Regulations
2005.

For further information please contact:
O.G. Oil & Gas:
Alastair McGregor
Chief Executive, OGOG
+65 6631 0951
Senescall Akers (New Zealand / Australasia enquiries):
Barry Akers
+64 21 571 234

As the record date for the dividend declared on 29 August 2017 has passed,
under the terms of OGOG''s offer the offer price for the ordinary shares has
been reduced from 78 cents per share by the amount of the dividend paid on 3
November 2017. For fully paid shares the adjusted offer price is 74 cents per
share.

Brunswick Group (international enquiries):
Charlie Potter / Charles Pretzlik
+44 20 7 404 5959

About OGOG
OGOG is the oil and gas business of Eyal Ofer''s Ofer Global Group, a private
portfolio of international businesses which are principally focused on
shipping, real estate, banking and investments. Ofer Global Group''s business
interests span Europe, North America, the Near East and Asia.

OGOG holds the Group''s oil and gas exploration and production field
interests. This is undertaken through direct participation in exploration and
production licenses and through strategic
shareholdings in established oil and gas companies, such as New Zealand Oil &
Gas.
End CA:00311775 For:NZO    Type:TRANSACT   Time:2017-12-12 09:05:15
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New Zealand Oil & Gas
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