AGL Energy Limited (AGL) has signed an agreement to sell certain parts of its interests in the Cooper Basin, South Australia to Acer Energy Limited (formerly Innamincka Petroleum) for $6 million.
AGL acquired its interest in the permits in 2009 (from Acer Energy Limited) and carried out a CSG exploration program. Acer Energy Limited is the current operator.
For further details refer to the ACER ASX release.
AGL is one of Australia's leading integrated renewable energy companies and is taking action toward creating a sustainable energy future for our investors, communities and customers. Drawing on over 170 years of experience, AGL operates retail and merchant energy businesses, power generation assets and an upstream gas portfolio. AGL has one of Australia's largest retail energy and dual fuel customer bases. AGL has a diverse power generation portfolio including base, peaking and intermediate generation plants, spread across traditional thermal generation as well as renewable sources including hydro, wind, landfill gas and biomass. AGL is Australia's largest private owner and operator of renewable energy assets and is looking to further expand this position by exploring a suite of low emission and renewable energy generation development opportunities.