Zeta Petroleum PLC (ASX:ZTA) has been granted a trading halt by the ASX, pending details of a potential oil and gas acquisition.
The halt will remain in place until the opening of trade on Friday 21st April 2017, or earlier if an announcement is made to the market.
Jersey continues to “work actively” on a number of opportunities in the UK, which it expects will lead to the acquisition of producing oil and gas assets in the near future.
The challenging oil and gas markets have forced Plexus to make fundamental changes to its business, changes which it says have made it a stronger company than when the downturn set in
Citing figures produced by Origin Energy, its partner in and operator of 16,000-square kilometres of licences, the gross best estimate of gas in place is put at a world-class 496 trillion cubic feet. Converting that to oil equivalent, it stacks up to 82bn barrels of the black sticky stuff.