27th Oct 2014 07:46
LONDON (Alliance News) - Salamander Energy PLC on Monday confirmed press speculation over the weekend, saying it is in talks with two potential buyers.
Salamander said it has received a conditional proposal from FTSE 250-constituent Ophir Energy PLC with regard to a potential offer and said it has received an approach from a consortium led by Spanish energy group Compañía Española de Petróleos and investment group Jynwel Capital.
The Asia-focused oil explorer and producer said it is seeking to clarify the terms of the Ophir bid and said it has not yet received any details on the CEPSA consortium's bid, nor any confirmation that an offer will be forthcoming.
It said it is in talks with both of the bidders over a possible takeover offer, but said there is no certainty that any offer will be forthcoming and advised its shareholders to take no action right now.
Speculation over the weekend suggested both Ophir and CEPSA were showing an interest in Salamander, which has been hit hard by the fall in oil prices.
Salamander also confirmed it expects the sale of a 40% stake in the B8/38 concession in the Bualuang oil field in Thailand to Sona Petroleum Berhad is on track to complete before the end of the year.
By Sam Unsted; [email protected]; @SamUAtAlliance
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