Oil Search Readies Share Placement to Fund Major Acquisition
27 February 2014 - 10:15AM
Dow Jones News
By David Winning
SYDNEY--Oil Search Ltd. (OSH.AU), Australia's fourth-largest oil
and gas producer by market value, Thursday said it's finalizing a
placement of new shares to fund a major acquisition.
Oil Search didn't elaborate and asked that trading in its shares
on the Australian Securities Exchange be halted until it's ready to
announce details of the deal.
Late last year, Oil Search said it was in discussions to buy a
stake in the Elk and Antelope gas fields in Papua New Guinea, which
are estimated to contain several trillion cubic feet of natural
gas.
-Write to David Winning at david.winning@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
Interoil Corp. (delisted) (NYSE:IOC)
Historical Stock Chart
From Apr 2024 to May 2024
Interoil Corp. (delisted) (NYSE:IOC)
Historical Stock Chart
From May 2023 to May 2024
Real-Time news about Interoil Corp. (delisted) (New York Stock Exchange): 0 recent articles
More InterOil Corp. News Articles