Salamander receives takeover proposals
Tuesday, October 28 2014 - 04:24 AM WIB
UK-based Salamander Energy Plc said Monday that it has received a conditional proposal from Ophir Energy plc with respect to a potential offer for the company, the terms of which Salamander is seeking to clarify.
The company added that it is also in receipt of an approach from a consortium led by Compa??a Espa?ola de Petr?leos (CEPSA) and Jynwel Capital.
?The Board of Salamander has not received the detail of the CEPSA Consortium's proposal or confirmation that any offer will be forthcoming,? it said in a statement.
The proposals from Ophir and the CEPSA Consortium are subject to a number of conditions, including due diligence and the receipt of a unanimous recommendation from the Board of Salamander, it added.
?The company is currently in discussions with both Ophir and the CEPSA Consortium in relation to their respective proposals. However, there can be no certainty that any offer will be forthcoming, or as to the terms of any such offer. Accordingly, shareholders are advised to take no action at this time,? the statement said.
Salamander Energy is an Asia-focused independent exploration and production company with a number of licenses spread throughout Indonesia and Thailand.
Salamander has developed strong operating credentials across all areas of the E&P life cycle. The Bualuang oil field (Gulf of Thailand) development was completed and the field successfully brought on-stream in August 2008 providing the company with its first operated production. The Kerendan gas condensate field (Central Kalimantan, Indonesia) is due to start production in the second half of 2014. The company is also pursuing a number of exploration opportunities in the Gulf of Thailand, Central Kalimantan and offshore East Kalimantan.
Editing by Reiner Simanjuntak