International Petroleum

Tony Sage's International Petroleum, formerly International Goldfields, has completed a $30 million capital raising and will now move ahead with the acquisition of Eastern Petroleum Corporation.

International Petroleum has today unveiled plans to list on the National Stock Exchange, days after the Australian Securities Exchange blocked a deal with links to controversial businessman Frank Timis.

Tony Sage-chaired International Petroleum has reported strong interest in its recent share placement, saying it has received firm commitments to raise $US35 million, $US10 million more than initially proposed.

Range Resources has launched a plan to merge with Russia and Kazakhstan-focused oil and gas explorer International Petroleum, in an all-scrip off-market deal worth around $105 million.

Prominent Perth business identity Tony Sage has continued to scale back his commitments, today announcing his resignation from oil and gas explorers African Petroleum and International Petroleum, following his retirement from International Goldfields late last week.

Range Resources says it may no longer proceed with a planned $105 million takeover of International Petroleum in the wake of the oil and gas explorer selling its assets in Russia and Kazakhstan.