(MENAFN- ProactiveInvestors)
() has been granted a trading halt by the ASX pending material details concerning the acquisition of the Leigh Creek Energy Project (LCEP) which has been the subject of prior advice to the market.
In December 2014 Marathon signed a Non-Binding Term Sheet involving a due diligence period a Farm-In a Joint Venture and an Option to acquire TriE which owns LCEP.
The LCEP is located at Leigh Creek in central South Australia around 550 kilometres north of Adelaide over and around the existing coalfield and is contained within the newly granted PEL 650 itself contained within PELA 647 - both assets of TriE.
The halt will last until the opening of trade on Wednesday 4th March 2015 or earlier if an announcement is made to the market.
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