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Proactive weekly oil & Gas highlights: Zephyr Energy Plc, Challenger Energy Group Plc, San Leon Energy Plc, Mosman Oil and Gas Ltd, Touchstone Exploration Inc, 88 Energy Ltd, Scirocco Energy Plc, Providence Resources Plc, Diversified Energy Company Plc
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San Leon Energy PLC confirms reverse takeover is being considered
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Letters to the Editor - High-speed rail, critical race theory, Sunday alcohol sales, helping dogs
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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.
Nigeria: San Leon conditionally acquires further interest and option in New Nigerian Oil Export System
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