Tamarind has acquired AWE Limited's 57.5% interest in the Tui Area Oil Fields, located off the coast of the Taranaki region of New Zealand. This includes operatorship, assets and inventory as well as AWE's oil hedge book and a working capital cash balance of US$10.8 million. For us, this project represents a foundational asset in the development of Tamarind and as an oil producer and partner in New Zealand.
The Tui Area Oil Fields comprise the Tui, Amokura and Pateke fields which are located approximately 50 kilometres off the coast of Taranaki.
Read the full press release here.