BCP Energy International has successfully reached its revised target of 50.1 per cent relevant interest in its takeover of Nido Petroleum, and has made the offer unconditional.
BCP Energy International has altered its conditions in its takeover of Nido Petroleum, making the offer nearly unconditional upon 50.1 per cent acceptance.
Nido Petroleum directors have unanimously recommended off market takeover bid by BCP Energy International, subsidiary of Thai oil refinery Bangchak, for 5.5 cents per share.
Shares in Ausdrill and Nido Petroleum have entered a trading halt and suspension respectively; with Ausdrill stating it will announce an impairment charge.
BCP Energy International has announced it will acquire over 400 million shares in oil and gas explorer Nido Petroleum from Abu Dhabi's Petroleum International Investment Corporation (Ipic).
