A $50 million Maari oil deal that has been in the works since 2019 has recently been axed due to regulatory uncertainty.

Jadestone Energy was set to take a 69 percent stake in this deal, but initiated the axing of this deal in a statement they posted. 

Andrew Jeffries, the managing director of New Zealand Oil and Gas explained the regulatory uncertainty established by the Government, and how disappointed he was that this deal fell through.

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