Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/igas-energy-to-acquire-dart-energy.shtmlIgas Energy to acquire Dart Energy
The Boards of IGas and Dart have entered into a Scheme Implementation Agreement (SIA) through which it is
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The Boards of IGas and Dart have entered into a Scheme Implementation Agreement (SIA) through which it is proposed that IGas will acquire the entire issued share capital of Dart by way of a Scheme of Arrangement under Australian law (Scheme).
The Boards of IGas and Dart believe that a combination of IGas and Dart would create a UK national energy champion:
The combination of IGas and Dart will create a market leading onshore UK oil and gas company with the largest area in the UK under licence of over 1 million net acres including major UK shale basins A financially strengthened group complemented by the underlying core cash flows, cash balances and unused debt capacity, and a work programme for 13 licences funded by GDF SUEZ and 2 funded by Total E&P UK
