20th Jan 2015 10:08
LONDON (Alliance News) - New Horizon Oil and Gas Ltd, which trades at T5 Oil and Gas, on Tuesday refuted reports that it is considering making a bid for FTSE 250 oil and gas explorer Afren PLC.
New Horizon noted an article on Mergermarket.com which suggested the company is viewing Afren as a potential takeover target.
T5 said it has no intention to make a bid for Afren, which is currently holding talks over a possible takeover by Nigerian oil company SEPLAT Petroleum Development Co PLC.
Afren had said on Monday that the deadline by which SEPLAT must say whether or not it intends to make a firm offer has been extended to 1700 GMT on January 30 from the previous deadline of 1700 GMT on Monday, following a request from Seplat to the UK Takeover Panel.
Afren shares were down 1.3% to 27.04 pence Tuesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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