FirstAfrica finds white knight

摘要

BowLeven may have come in as a white knight to rescue stricken FirstAfrica Oil but at the same time the latter warned of a reserves downgradeIt's been a busy couple of week for FirstAfrica, with shares being suspended as the company fought to raise financing and then the offer from BowLeven valuing it at US 57m - a premium of more than 25% compared to the suspension price.