Unit 17, Level 2
100 Railway Road Subiaco, Western Australia 6008
ASX Announcement 10 September 2015 COMPANY UPDATE POSTAL ADDRESSPO Box 8129
Subiaco East 6008
CONTACT DETAILS Tel: +61 (0)8 9380 9920 Fax: +61 (0)8 9381 5064 info@indusenergy.com.au www.indusenergy.com.au BOARD & MANAGEMENT Mr John (Gus) SimpsonNon-Executive Chairman
Mr Anthony MilewskiManaging Director
The
Mr Jonathan WhyteNon-Executive Director and Company Secretary
Mr Ken BullChief Operating Officer
ABN22 009 171 046
ASX CODEIND
As previously advised, Indus Energy NL (Indus or Company) has conducted due diligence in relation to the term sheet entered into with Keyano Pimee Exploration Company Limited (KPECL) in November
2014, which contemplated the farm in by Indus to oil sands properties located in the Cold Lake region of Alberta, Canada (Term Sheet).
Negotiations were initially focused on finalising a Joint Operating Agreement which would enable the first phase of operations to commence. However, the due diligence process identified material uncertainty with regard to the conditions precedent in the term sheet. In light of this, agreement on a path forward has not been reached and both parties have decided to terminate the agreement contemplated by the Term Sheet.
As outlined in our last announcement the Board has been actively reviewing several other acquisition opportunities in both the oil and gas and other sectors.
While this process is ongoing the Company has preserved its strong cash position and reduced all corporate and other overheads to a minimum. This policy will be maintained until such point as the Company is fully engaged in operational activity. Indus will provide a further updates as and when these are materially progressed.
For further information please contact our office on (08) 9380 9920. Yours Sincerely
Anthony Milewski
Managing Director
www.indusenergy.com.au
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