Sona Petroleum to distribute trust account money next month

PETALING JAYA: Sona Petroleum Bhd, which failed to secure Stag Oilfield in Australia as its qualifying acquisition, will make a final distribution of the remaining money in its cash trust account in April after obtaining tax clearance.

“The actual date of distribution will be announced in due course,” the company said in a filing with the stock exchange today.

At the same time, Sona Petroleum is urging its creditors to send in details of any claims against the company to the liquidator not later than April 5. A creditor who does not make a claim by April 5 will not be included in the distribution, it said.

Meanwhile, Sona Petroleum said the liquidation of its wholly owned subsidiary Sona E&O (Perth) Pty Ltd has been completed.

However, the liquidation of another wholly owned subsidiary, Sona Goldhill, is still ongoing.