The Queensland Supreme Court ruled last month that the farm-out deal still go ahead after a legal battle between the two companies.
However, the following the death of AEP founder Aubrey McClendon in March this year, Armour said AEGP had found itself in a position which rendered it unable to meet its obligations according to the Supreme Court judgment.
Instead, Armour has now agreed to acquire AEGP subsidiary AEGPAS at no cost in settlement to AEGP’s obligations.
AEGPAS
