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Echelon Resources Limited (ASX:ECH)
ALERT: Price-sensitive ASX Announcement for ECH
Current share price for ECH : $0.350 0 (0%)+
Release
2 Mar 2026 9:19AM
Price at Release
$0.350
Full Release
Summary
Echelon Resources Limited has announced their agreement with Horizon Oil Limited to sell 19.99% of their shares in Cue Energy Resources Limited at a rate of A$0.115 per share through an off-market transaction. Additionally, Horizon Oil has made a takeover bid for the remaining Cue shares. Echelon plans to accept this offer for all other Cue shares they hold or control, provided no superior proposal is presented. This sale is subject to necessary approvals from authorities in the Northern Territory and will be finalized post offer period, contingent on the offer being unconditional. Echelon will keep the market updated as the transaction progresses.
Key Points
- Echelon Resources Limited to sell 19.99% of Cue shares to Horizon Oil.
- Horizon Oil's takeover bid announced for remaining Cue shares.
- Echelon to accept the offer for remaining shares unless a better proposal arises.
- Approval required from Northern Territory authorities for transaction completion.
- Market updates to be provided by Echelon as the transaction progresses.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.
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