By Maryam Cockar
Date: Tuesday 13 Dec 2016
LONDON (ShareCast) - (ShareCast News) - Australian explorer Oilex has made a formal offer to buy the remaining 55% stake that it does not already own in the Cambay oil field in India.
The company's partner, state-owned Gujarat State Petroleum Corporation, is selling its interest in Cambay, subject to regulatory approval.
If the AIM-listed company's bid is accepted it would increase its current 45% stake to 100% of Cambay.
Oilex is the operator of Cambay and holds a pre-emptive right to bid before the stake is sold to a third party.
The company said it "will consider its strategic options for Cambay in order to realise value for shareholders".
Shares in Oilex were down 5.65% to 0.401p at 0947 GMT.
Email this article to a friend
or share it with one of these popular networks:
Currency | UK Pounds |
Share Price | 0.11p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 0.18 |
52 Week Low | 0.073 |
Volume | 13,871,437 |
Shares Issued | 10,638m |
Market Cap | £11.44m |
Value |
---|
Price Trend |
---|
Income |
---|
Growth |
---|
No dividends found |
Time | Volume / Share Price |
16:02 | 9,090 @ 0.11p |
15:33 | 71,309 @ 0.11p |
15:10 | 2,769,230 @ 0.11p |
14:54 | 1,996,302 @ 0.11p |
14:42 | 4,625,347 @ 0.11p |
You are here: research