The acquisition cost of A$82 million (US$62 million) comprises A$62 million at completion and a further A$20 million based on either the sanctioning of the Sole gas project or the receipt of proceeds from any subsequent sell-down by Cooper.
The sale includes field abandonment liabilities of about A$140 million, which Cooper will incur after 2025.
The assets include 50% of the Casino-Henry gas project, 50% of the Sole gas field and the Orbost onshore gas plant, a 10% interest in the Minerva gas field and gas plant, and 100% of the Patricia-Baleen gas field.
