March 17, 2017 / 3:56 AM / a year ago

BRIEF-Karoon Gas Australia issues update on acquisition of Brazil assets

March 17 (Reuters) - Karoon Gas Australia Ltd:

* Asx alert-Brazil assets acquisition

* “Karoon understands that petrobras is continuing with court proceedings to have interim injunction lifted”

* Current status of court proceedings is that karoon filed its legal defence in respect of main court proceedings during february 2017

* Like to clarify TCU decision is separate and distinct from court proceedings on 25 oct 2016 in court of sergipe against petrobras

* “karoon welcomes decision by tcu relating to petrobras’ broader divestment process”

* Provide an update with respect to disposal by Petróleo Brasileiro S.A. Of Baúna and Tartaruga Verde fields

* Interim injunction relating specifically to potential sale remains in force, suspending further negotiations between Petrobras and Co Source text for Eikon: Further company coverage:

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