Sasol Welcomes Progress Energy as a New Partner in the Development of the
Montney Basin Shale Gas Assets
JOHANNESBURG, Dec. 17, 2013
JOHANNESBURG, Dec. 17,2013 /PRNewswire/ -- On 8 November 2013, Sasol's (JSE:
SOL, NYSE: SSL) partner, Talisman Energy Inc (Talisman), announced that it had
reached an agreement to sell part of its Montney acreage in northeast British
Columbia to Progress Energy Canada Ltd (Progress Energy) for a total cash
consideration of CDN$1,5 billion.
In terms of Sasol's existing agreement with Talisman, Sasol has a right to
match the Progress Energy bid, also known as a right of first refusal, within
30 days of the notice from Talisman, which was received effective 18 November
Sasol has evaluated this opportunity taking into consideration, among others,
its other available investment opportunities and has taken the decision not to
exercise its right of first refusal.
Sasol welcomes Progress Energy as its new partner and looks forward to forging
a solid working relationship in the development of the Montney Basin shale gas
assets. Progress Energy is a wholly owned subsidiary of Malaysian national oil
and gas company, Petroliam Nasional Berhad (PETRONAS), with which Sasol has a
Sponsor: Deutsche Securities (SA) (Pty) Ltd
Sasol Investor Relations Team
Tel.: +27 (0)11 441 3113
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