Ophir Makes Bid to Buy Fellow East African Explorer Dominion

摘要

Ophir Energy unveiled on Thursday atakeover offer for fellow London-listed, EastAfrica-focused explorer Dominion Petrole-um in a deal that it says would create “thelargest independent net deepwater acreageportfolio” in East Africa.The all-share offer, which has been rec-ommended by the Dominion board, isworth ￡118.2 million ($186 million), in-cluding the buy-up of Dominion convertiblenotes alongside shares. Each Dominionshareholder would receive 0.0244 Ophirshares per Dominion share — which nowequates to 5.8 pence, a rough 60% premiumto the 3.6 pence at which Dominion stockclosed on Wednesday.