Kairiki Energy Limited (ASX:KIK)
Perth, June 17, 2009 AEST (ABN Newswire) - Kairiki Energy Limited (ASX:KIK)(PINK:KAIRF) pursuant to the announcement of 1 May 2009 and 2 June 2009 regarding the farm-out agreement entered into with Focus Oil and Gas SC54 Pte Ltd ("Focus") to farm-in to the inboard portion of SC54, Focus has requested a further two weeks to finalise their investor contracts with their investor group to secure the required finance. Kairiki has agreed to this request. As a result, we have amended our agreement with Focus to provide them with this extension on similar terms to the previous agreement, though on a non exclusive basis.
As parallel with this and in addition, Kairiki has initiated discussions with a number of other parties interested in funding the development of our SC 54 inboard portfolio. We will continue to update the market accordingly.
Contact
Laurie Brown
Managing Director
Kairiki Energy Limited
Tel: +61-8-9388-6711
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