Todd wants watchdog to intervene on deal

Todd Energy has asked the Commerce Commission to obtain an order from the cease and desist commissioner covering aspects of the sale to Contact Energy of rights to Maui gas.

Contact last month signed contracts with the Maui gasfield joint venture for the supply of additional Maui gas under a right-of-first-refusal (ROFR) deal.

Contact said it remained confident of its contractual entitlements under the ROFR process and looked forward to this request being quickly resolved.

On October 27, shares in energy companies Vector and Contact Energy rose after they gained significant extra long-term gas rights from the Maui gas field.

Vector said it had secured another 105 petajoules (PJ) until 2014, although 60PJ was subject to being confirmed "economically recoverable".