NewPeak Metals (ASX:NPM) said Lakes Blue Energy (ASX:LKO) received the final AU$3.5 million in proceeds from the AU$6.5 million sale of its 49% interest in Victorian Petroleum Exploration Permit 169, according to a Tuesday filing with the Australian bourse.
Lakes Blue Energy will receive around 4% of the wellhead value of any petroleum produced from exploration permit 169, the filing said.
The company holds roughly 17% of Lakes Blue Energy shares, per the filing.
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