The Online Investor
Oil & Gas Exploration & Production M&A image Oil & Gas Exploration & Production M&A » By The Online Investor Staff, updated Thu., Mar. 28, 12:54 PM Recent mergers and acquisitions in the Oil & Gas Exploration & Production M&A category.

Slide #100. Petromanas Energy Inc. Gallic Energy Ltd.

Acquirer: Petromanas Energy Inc. (PMI.CA)
Acquiree: Gallic Energy Ltd. (GLC.CA)
Details: Petromanas Energy Inc. and Gallic Energy Ltd. are pleased to jointly announce that they have entered into an agreement whereby Petromanas will acquire 100% of the issued and outstanding class A shares of Gallic, in exchange for common shares of Petromanas, by way of a statutory plan of arrangement. The transaction is expected to close in the fourth quarter of 2012 provided all required Gallic securityholder, court and regulatory approvals are obtained. Under the terms of the Arrangement, holders of Gallic shares ("Gallic Shareholders") will receive, in exchange for each Gallic Share held, 0.3736 of a share of Petromanas (the "Exchange Ratio"). The Exchange Ratio represents a value of approximately $0.07 per Gallic Share, based on the volume weighted average price of Petromanas Shares on the TSX Venture Exchange (the "TSXV") for the ten trading days ended October 1, 2012 and a premium of 11% to the volume weighted average price of Gallic Shares on the TSXV for the same period.

PMI Resources is an exploration stage company engaged in the acquisition and exploration of oil and gas properties in Albania.

Open the PMI.CA Page at The Online Investor »

PMI Resources is an exploration stage company engaged in the acquisition and exploration of oil and gas properties in Albania.

Open the GLC.CA Page at The Online Investor »

Company Name: 
PMI Resources Ltd
Website: 
www.petromanas.com
Sector: 
Oil & Gas Exploration & Production
Company Name: 
Gallic Energy Ltd
Website: 
www.gallicenergy.com
Sector: 
Oil & Gas Exploration & Production
 

Quotes delayed 20 minutes

Email EnvelopeFree Email Alerts:
Get SEC Filing Alerts
Get Dividend Alerts

Oil & Gas Exploration & Production M&A - Slide 100 of 100 Page | www.TheOnlineInvestor.com

Copyright © 1998 - 2024, All Rights Reserved
Nothing in The Online Investor is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Video widget and stock market videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact The Online Investor; Meet Our Editorial Staff.