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September 12, 2013
06:05 EDTMPETMagellan Petroleum signs long-term gas sale contract for Australian field
Magellan Petroleum signed a gas supply and purchase agreement through its indirect subsidiary, Magellan Petroleum Corporation Pty Ltd with Northern Territory Power and Water Corporation for the long-term sale of gas from the company's Dingo gas field. Pursuant to the Dingo GSPA, the company has contracted to supply up to 30 Bcf of gas to PWC on a 100% take-or-pay basis over a 20‑year supply period. The company's supply obligation is expected to begin in early calendar year 2015 at a fixed price escalating with Australian CPI. The company expects to receive all approvals by the summer of 2014 and begin construction of the pipeline and facilities immediately thereafter.
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April 24, 2014
12:00 EDTMPETMagellan Petroleum rises 14.2%
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