BRIEF-New Guinea Energy to sell unit's 50 pct interest in Petroleum Prospecting Licence 269 to Santos Ltd

Feb 12 (Reuters) - New Guinea Energy Ltd NGE.AX :

* NGE to sell 50% interest in ppl 269 for up to US$40 million NGE.AX

* Co and its unit signed agreement with unit of of Santos regarding the proposed sale of Kirkland's 50% participating interest in Petroleum Prospecting Licence 269 to Santos

* Under sale agreement, Santos has agreed to fund Kirkland's participating share of expenditure under certain pre-approved work programs and budgets

* Source text for Eikon News Search ID:nASX5Gb3GX

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