The owner of a major gas project in Queensland is now in voluntary administration, but receivers say it’s “business as usual” for supplies in the state.
Moranbah Gas Plant owner QPM Energy made the announcement yesterday, after its share price collapsed 78 per cent in six months, according to reports.
It comes one day after the company entered a trading halt, with its shares last trading at less than one cent. Shares of QPM will remain suspended from trading during the administration process.
McGrathNicol’s Mark Holland and Anthony Connelly were appointed voluntary administrators, while FTI Consulting’s Chris Hill and Ben Campbell were appointed receivers and managers over seven entities within the group by secured creditor Dyno…