Salamander Energy Plc proposals from Ophir, CEPSA consortium
27 October 2014
Salamander Energy Plc, with oil and gas drilling operations in Indonesia, today said it had received a conditional proposal from Ophir Energy Plc, adding that it sought clarifications on the potential offer, Reuters reported.
The London-listed Salamander, had been approached by a consortium led by Spanish firm Compania Espanola de Petroleos (CEPSA) and Jynwel Capital. The consortium, however, had not given any details of its proposal or any confirmation that an offer would be made, it said.
According to Salamander, it was in discussions with Ophir and the CEPSA consortium regarding their proposals.
According to The Sunday Times, Ophir Energy and Spanish rival CEPSA were preparing competing takeover bids that could value Salamander at over £275 million.
Meanwhile, Alliance News reported the Asia-focused oil explorer and producer said it had not yet received any details on the CEPSA consortium's bid, nor any confirmation that an offer would be forthcoming.
It said it was in talks with both bidders over a possible takeover, but added there was no certainty that any offer would be forthcoming and advised its shareholders against taking any action right now.
The company also confirmed it expected the sale of a 40-per cent stake in the B8/38 concession in the Bualuang oil field in Thailand to Sona Petroleum Berhad was on track to complete before the end of the year.
There was speculation over the weekend that both Ophir and CEPSA were showing an interest in Salamander, which had taken a hard hit with the fall in oil prices.