Shareholders voted on the US$25 million deal during an extraordinary general meeting (EGM) this week with nearly 77.4% of shareholders against the acquisition and only 22.6% in favour of the deal.
While shareholders were against the proposed acquisition, Sona has not completely given up on the prospect of purchasing the oilfield from current owners Quadrant Energy and Santos.
“On behalf of Sona Petroleum, we wish to announce that further to the outcome of the adjourned EGM on 26 April 2016, the company is considering the next steps and options with regards to its proposed qualifying acquisition,” Sona said in a statement on Wednesday.
“Accordingly,
