5th Dec 2012 07:46
Mercom Oil Sands Plc (AIM: MMO)
("Mercom" or "the Company")
Discussion regarding Nordic Petroleum ASA
As previously announced, a minority shareholder of Mercom, has set up a company, Nordic acquisition Company Limited ("NAC") to make an offer for control of Nordic Petroleum ASA, the current holder of the Chard Oil Sands Leases. In the event that this offer is successful, NAC has approached Mercom with regard to the possibility of Mercom making an offer to acquire a 50% interest in the Chard Leases, from Nordic, for a share based consideration of less than $2m.
Mercom will update the market with any further developments.
-ENDS -
Enquiries:
Libertas Capital Corporate Finance Ltd +44 (0) 20 7569 9650
Tim Cofman- Nicoresti
Cardew Group +44 (0) 20 7930 0777
Tim Robertson/Alexandra Stoneham
Related Shares:
Monchhichi PLC