Tuesday, 21 August 2018

Announcement

TRANSACT: NZO: OG Oil & Gas Receives OIO Approval

14 Dec 2017 08:42NZX
EYAL OFER''S O.G. OIL & GAS RECEIVES OVERSEAS INVESTMENT OFFICE
APPROVAL OF ITS PARTIAL TAKEOVER OFFER FOR NEW ZEALAND OIL &
GAS

14 December 2017

O.G. Oil & Gas (Singapore) Pte. Ltd. ("OGOG") is delighted to announce that
it has received regulatory approval from the Overseas Investment Office for
its partial takeover offer for New Zealand Oil & Gas Limited ("New Zealand
Oil & Gas").

The consent has been provided under the Overseas Investment Act 2005 and
Overseas Investment Regulations 2005. It follows separate consent from New
Zealand Petroleum & Minerals and satisfies a further key condition of OGOG''s
offer.

As of today, OGOG has received acceptances under its partial takeover offer
which, together with its current shareholding, total more than 62% of New
Zealand Oil & Gas''s fully paid ordinary shares currently on issue.

Eyal Ofer, Chairman of Ofer Global, said: "This approval is a significant
moment for our vision to build the future of New Zealand Oil & Gas as its
largest shareholder. I am personally very excited about the prospect of
having New Zealand Oil & Gas join the Ofer Global family. By working
together, we are confident that we will create value for shareholders, the
country and the region."

Alastair McGregor, Chief Executive of OGOG, said: "This has been a landmark
week for OGOG. First we met the minimum acceptance threshold for our offer
and now the OIO has given its approval.

To have received the support of both shareholders and the New Zealand
government is gratifying and reinforces our belief that we have the right
vision for New Zealand Oil & Gas."

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 remain open until 8 January 2018 and the offer remains
subject to certain outstanding customary conditions.

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

Brunswick Group (international enquiries):
Charlie Potter / Charles Pretzlik
+44 20 7 404 5959
End CA:00311909 For:NZO    Type:TRANSACT   Time:2017-12-14 08:42:31
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