KUALA LUMPUR: Globaltec Formation Bhd's Australian-listed NuEnergy Gas Ltd today announced that its heads of agreement (HoA) for initial gas sales from Tanjung Enim's plan of Development 1 has been extended by another three months.
Trading in the securities relating to Globaltec Formation Bhd has been halted until 10am today following the announcement.
In a filing with Bursa Malaysia, Globaltec said the HoA expired on March 30, 2024 and that its subsidiary Dart TE and PT Laras Energy have mutually agreed to extend the agreement June 30, 2024.
Both parties have also agreed to extend the HoA upon execution of a gas sale and purchase agreement between the parties; or upon the parties agreeing in writing to terminate the HOA before June 30, 2024, it said.