Ophir in takeover talks with Salamander

Offshore staff

LONDON – Ophir Energy and Salamander Energy have agreed on terms for a share offer.

They claim the combined business would be better positioned to accelerate exploration in Salamander’s licenses in the Gulf of Thailand and in Ophir’s recently acquired acreage off Myanmar and Indonesia.

The combined group would have a presence in 21 production, development, and exploration blocks in Southeast Asia, as well as Ophir’s interests offshore West and East Africa.

Shareholders from both companies would have to ratify the deal, which is also dependent on Salamander’s agreement to sell a 40% stake to Sona Petroleum in the B8/38 concession and surrounding G4/50 concession not going through.

Another consortium of CEPSA and Strategic Energy (Global) has withdrawn its offer to acquire Salamander.

11/21/2014

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