Aabar Petroleum completes acquisition of PEARL Energy
Friday, July 28 2006 - 11:44 AM WIB
Singapore firm PEARL Energy Limited announced on Friday that United Arab Emirates-based firm Aabar Petroleum Investments Company PJSC had completed the compulsory acquisition of shares in PEARL.
?Pursuant to the completion of the compulsory acquisition on 28 July 2006, the company (PEARL) has become a wholly-owned subsidiary of Aabar,? PEARL said in the statement to the Singapore Exchange, adding that the bourse had no objection to the delisting of PEARL.
The effective date of the delisting will be announced at a later date, PEARL added.
PEARL holds working interests in six Indonesian blocks, including the Salawati Basin, the Salawati Island and the Tungkal PSC in Jambi which are now in production stage.
Aabar has listed its shares in the Abu Dhabi Securities Market of the UAE. (robert)