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Echelon Resources Limited (ASX:ECH)

ALERT: Price-sensitive ASX Announcement for ECH
Current share price for ECH : $0.350 -0.005 (-1.41%)+
Announcement
Release
26 Jun 2026 1:24PM
Price at Release
$0.355
Full Release
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Summary
Horizon Oil Limited announced the completion of its Pre-Bid Agreement with Echelon Offshore Limited regarding the acquisition of shares in Cue Energy Resources Limited. This agreement facilitated Horizon's acquisition of 139,885,879 Cue shares, which is approximately 19.90% of all issued Cue shares. The takeover offer period concluded on June 19, 2026, and eligible shareholders who accepted the offer will receive their consideration by July 2, 2026. Following these events, Horizon now holds a 57.06% interest in Cue shares. Horizon's CEO, Richard Beament, expressed enthusiasm for completing the acquisition and anticipates collaborating with Cue on future projects.
Key Points
  • Completion of Pre-Bid Agreement with Echelon Offshore Limited.
  • Acquisition of 139,885,879 Cue shares by Horizon.
  • Takeover offer period ended on June 19, 2026.
  • Eligible shareholders to receive consideration by July 2, 2026.
  • Horizon now holds a 57.06% interest in Cue shares.
  • CEO Richard Beament is pleased with the acquisition and future collaboration.
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.