Matahio NZ Expands Portfolio with 100% Ownership of Cheal East Permit

Cheal Petroleum Limited (CPL), Matahio’s wholly owned NZ subsidiary, has completed the acquisition of East West Petroleum’s 30% participating interest in the Cheal East permit, PMP 60291 (onshore Taranaki). This acquisition increases CPL’s participating interest in the Cheal East permit to 100%.

Drew Cadenhead, Matahio’s NZ Country Manager said, “The completion of this acquisition is an important milestone for the Matahio NZ business. We appreciate the support of the NZ Government in approving the transfer of East West’s Cheal East permit interest to Matahio Energy.”