High Peak Royalties (ASX:HPR) has been granted a trading halt by the ASX this morning, pending details of a material agreement.
The company said that overnight it signed an agreement with Mosman Oil & Gas (AIM.MSMN) to participate in 30% working interest over New Zealand base oil and gas permits in the South Taranaki Region.
Last month the company appointed Simon Fyfe as its chief executive officer.
Fyfe will target royalty acquisitions in the oil and gas & mining industries, with resulting increases in cash flow.
The halt will remain in place until the opening of trade on Friday 9th October 2015, or earlier if an announcement is made to the market.
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