17th Sep 2014 09:27
LONDON (Alliance News) - Mosman Oil & Gas Ltd Wednesday said its offer for Trident Energy Ltd has become unconditional and that drilling has commenced at the Crestal-2 well.
Australia and New Zealand-focused Mosman said it has received acceptances from Trident shareholders representing 80% of its issued share capital. Following the milestone, Mosman has decided to wave all remaining bid conditions to make the offer unconditional.
Mosman also briefly said the Crestal-2 well has been spudded and is currently at 52 metres.
"We have completed yet another step in achieving Mosman's objectives, and welcome the Trident Shareholders to Mosman," said Mosman Executive Chairman John Barr.
Mosman Oil & Gas shares were up 3.2% at 22.441 pence per share on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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