NZEC
will
buy
the
onshore
Tariki,
Ahuroa,
Waihapa
and
Ngaere
fields,
in
licence
areas
PML
38138,
PML
38139,
PML
38141
and
PML
38140,
as
well
as
the
Waihapa
production
station
for
the
cash
consideration
and
a
5%
gross
overriding
royalty
on
future
production.
Origin
will
also
retain
an
option
for
10
years
to
use
eight
wells
within
the
fields
for
gas
storage,
as
well
as
keeping
50%
of
production
rights
from
a
development
well
on
the
Waihapa
licence
to
be
funded
by
NZEC.
The
sale
is
subject
to
Origin’s
recommissioning
of
the
Waihapa…
