London Stock Exchange-listed Dragon Oil which has its headquarters in Dubai has confirmed in a statement that it is in the preliminary stages of exploring a possible offer for all of the issued and to be issued share capital of Bowleven, an Edinburgh oil and gas explorer. "This announcement does not constitute an announcement of a firm intention to make an offer. Dragon Oil would like to emphasise that there can be no certainty that any offer will ultimately be made or the terms or timing on which any such offer would be made," the statement said. Dragon Oil is now required, by 5pm of March 16 to either announce a firm intention to make an offer for the company or announce that it does not intend to make an offer. Robin Mills, head of consulting at Dubai-based Manaar Energy, told Gulf News: "Dragon Oil has been exploring options for diversifying away from its main asset in Turkmenistan for several years, including its entry into exploration in Tunisia. Dragon needs to deploy its large cash reserves. Management has previously indicated an interest in West Africa, and Bowleven seems like a good fit given Dragon's expertise in shallow-water field developments."
GMT 18:55 2018 Friday ,14 December
Libya’s National Oil against paying ‘ransom’ to reopen El Sharara fieldGMT 22:21 2018 Thursday ,13 December
Turkey starts building land part of Turkish Stream pipelineGMT 13:35 2018 Sunday ,09 December
OPEC+ deal to ensure stability of oil price, that is positive for RussiaGMT 14:30 2018 Friday ,07 December
Major oil producers haggle over production cutGMT 13:29 2018 Thursday ,06 December
Major oil exporters mull supply cut amid internal rifts, US demandsGMT 09:30 2018 Monday ,03 December
Qatar says it is withdrawing from OPEC on January 1GMT 21:01 2018 Sunday ,25 November
Oil prices plummet amid U.S. drilling rigs downGMT 17:32 2018 Friday ,16 November
OPEC Basket Price Stood, at over $65.2, on ThursdayMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor