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Midwestern Oil Makes Reverse Take-over Offer to San Leon Energy

Obinna Chima Midwestern Oil & Gas Limited has made a reverse take-over (RTO) offer to San Leon Energy Plc, an energy company listed in the Alternative Investment Market (AIM) of the London Stock Exchange (LSE). A reliable industry source disclosed to THISDAY that the initial approach for the RTO was done three years ago, adding that the offer appears to be a natural progression from the initial discussions/offer. “Discussions are now in advanced stages,” the sources added. Those familiar with the deal believe the transaction would put the companies in good stead to take advantage of the divestment by majors such as Shell, Chevron, Exxon and Agip from the Nigerian market.

San Leon Energy PLC (AIM:SLE) | RNS | San Leon Energy PLC - Conditional acquisition of further interest in ELI

San Leon Energy PLC (AIM:SLE) | RNS | San Leon Energy PLC - Conditional acquisition of further interest in ELI
proactiveinvestors.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.co.uk Daily Mail and Mail on Sunday newspapers.

Investegate |San Leon Energy PLC Announcements | San Leon Energy PLC: Proposed transactions & AIM suspension

Investegate |San Leon Energy PLC Announcements | San Leon Energy PLC: Proposed transactions & AIM suspension
investegate.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investegate.co.uk Daily Mail and Mail on Sunday newspapers.

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