The formal long-stop date for New Age’s agreed sale of its 37.5% operated stake to Perenco was June 30, 2023.
Bowleven, a partner in the proposed development, understands that various conditions related to completion of the transaction have still to be resolved, including securing the approval of Cameroon’s state oil and gas company Société Nationale des Hydrocarbures (SNH).
It is unclear when or if SNH will take a decision.
Both parties continue to seek to progress the transaction.
