Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/senex-energy-withdraws-merger-proposal.shtmlSenex Energy withdraws merger proposal
Senex Energy Limited provides the following information in response to recent media reports: On Wednesday 11 December, Senex submitted a non-binding,
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Senex Energy Limited provides the following information in response to recent media reports:
On Wednesday 11 December, Senex submitted a non-binding, indicative proposal to merge with Australian-based oil and gas company AWE Limited.
The proposal for a friendly merger was subject to due diligence and consistent with Senex's disciplined approach to growth.
On Sunday 15 December, AWE advised that it will not engage and, as a result, Senex has withdrawn the proposal.
Senex Managing Director Ian Davies said Senex is a growth company with an experienced management team and a track record for delivery.
'The proposal presented to AWE was consistent with our strategy of applying experience and expertise to accelerate growth and realise value for shareholders,' he said.
