Cooper Energy has signed agreements for the sale of its Indonesian exploration assets to Mandala Energy Limited, a South East Asia focused oil and gas exploration and production company, for consideration of US$8.25 million.

The sale, which is effective from 1 January 2016, is subject to the approval of the Government of Indonesia and is expected to complete within the current financial year. The net cash proceeds are anticipated to be more than A$10 million at current exchange rates, after costs and Indonesian transfer taxes.

Tags: Cooper Energy, Mandala Energy Limited