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Shell Sets Sights on Ophir Energy as Potential Takeover Target
Mar. 04, 2013 11:54AM PST
Resource InvestingBloomberg reported that Ophir Energy Plc is becoming an attractive takeover target for Shell.
Bloomberg reported that Ophir Energy Plc is becoming an attractive takeover target for Shell.
As quoted in the market report:
Ophir offers buyers the chance to gain a foothold or expand in Africa with access to assets that have the potential to supply enough fuel for the continent for at least a decade. The company could attract Shell, which lost a bidding war last year for East African explorer Cove Energy Plc, according to SVM Asset Management Ltd. Chinese state-owned firms Cnooc Ltd. (883), which has projects in Uganda, and China Petrochemical Corp., the refiner known as Sinopec Group, also could be interested, Guinness Atkinson Asset Management Inc. said.