ARC spends up big on asset acquisition

摘要

AUSTRALIAN EXPLORATION AND production house ARC Energy has unveiled an ambitious plan to develop into the next Ampolex,announcing a US315 million deal to secure a suite of assets from Japanese-owned Wandoo Petroleum.The deal,worth more than ARC'S market capitalisation,will secure the company's position as one of Australia's largest energy companies,doubling production at the stroke of a pen and adding acreage in the Carnarvon and Bass basins to its cornerstone Perth and Canning basin projects.