Cooper revealed its deal with ACL International was off after the Canadian company declined an extension to the transaction sunset date and exercised its right to terminate the sale and purchase agreement.
The deal was first agreed in June. However, Cooper revealed late last month the sale would take longer than expected as it waited on regulatory approval.
The Australian company will continue to search for a buyer for its stake in the oilfields, which lie in the South Sumatra basin and currently produce about 500 barrels per day of oil.
“Our
