Interra Resources

[Musicwhiz]

Rights issue - 1 for 2 @ 63% discount to last done price.

Wow.

(Not Vested)

[greengiraffe]

http://www.businesstimes.com.sg/premium/...n-20140826

PUBLISHED AUGUST 26, 2014
Interra Resources paying less for proposed acquisition
BYMINDY TAN
tanmindy@sph.com.sg @MindyTanBT

THE purchase price for PT Benekat Barat Petroleum (BBP), which Interra Resources' wholly owned subsidiary Goldwater Indonesia (GII) is acquiring, has been lowered to US$60 million from the original price of US$78.5 million.
Interra Resources said in September last year that GII was looking to acquire BBP, which holds all the rights to explore and develop the Benakat Barat field in South Sumatra.
The new, mutually agreed upon purchase price was arrived at after considering the updated reserve report and the economic evaluation report on the West Benakat KSO prepared by Gaffney, Cline & Associates.
On the completion date, US$54 million will be paid out in cash. Another payment of US$6 million will be made through the issue of consideration shares.