Loyz Energy to complete acquisition of Carnarvon Petroleum interests by April

If conditions are fulfilled on time.

The board of directors of Loyz Energy Limited gave an update that the parties involved in the acquisition of petroleum interests held by Carnarvon Thailand are currently working on the fulfilment of the certain conditions.

In March, Carnarvon announced that it has entered into a Sale and Purchase Agreement (SPA) to divest half of its 40% interest in the Thailand concessions for a total consideration of up to US$65 million (~A$72 million).

The SPA contained a number of standard industry conditions to be satisfied prior to the transaction completing.

Barring any unforeseen circumstances, Loyz Energy expects the proposed acquisition to be completed in April 2014.