Former Blue Star Helium chief James Cruickshank has lost an 11th-hour bid to rid himself of an ASIC ban and $40,000 fine for failing to share asset sale details with investors.
James Cruickshank has been banned from managing companies for four years, after the former Blue Star Helium boss was found to have breached ASX disclosure laws.
Local oil and gas company Antares Energy has sold its two remaining assets in the Permian Basin in Texas to an undisclosed private equity buyer, for about $US250 million ($A360 million).
Antares Energy has sold its Southern Star project to US-based Breitburn Energy Partners for a $152 million cash and share package, after spending the past 14 months attempting to offload its Permian Basin asset.
Perth oil and gas explorer Antares Energy has responded vigorously to claims by one of its major shareholders that it lacked transparency around a major deal and the disclosure of directors' interests.
Perth-based oil and gas company Antares Energy has received a fresh $US300 million offer from an undisclosed party for its Permian Basin oil and gas assets in Texas, less than six months after it backed out of a previous sale agreement.
