Greymouth Petroleum wants court to order Sturgess to sell shares

Oil and gas company Greymouth Petroleum wants to part ways with suspended chief operating officer and shareholder John Sturgess and wants a court order to force him to sell his 14% stake.

But at Auckland High Court today, Mr Sturgess is seeking a court-ordered sale of 100% of Greymouth Petroleum as the best way for him to sell his shares.

Principal shareholders in Greymouth Petroleum, the second largest locally-owned petroleum producer, issued a statement saying the company was not for sale as the complex proceedings got underway this morning.

 

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