NuEnergy did not name its potential new partner, saying only that it had signed a letter of intent with a “strategic Asian investor” that could earn a 49.9% interest in the PSC.
Under the terms of the proposed farm-in, the potential partner will take a stake in NuEnergy for at least A$1.3 million (US$1.2 million) via a 10% share placement.
It will also pay the Australian company US$2.7
