Sona Secures $140M Loan for Acquisition of 2 Blocks in Gulf of Thailand

Malaysia's Sona Petroleum Berhad referred Tuesday to the announcements dated June 5, June 25, July 21 and Aug. 29 in relation to the Proposed Transaction (regarding the acquisition of a 40 percent stake in Block B8/38 -- which contains the producing Bualuang field -- and the G4/50 exploration concession in the Gulf of Thailand) with Salamander Energy Plc.

On behalf of Sona Petroleum, CIMB Investment Bank Berhad and RHB Investment Bank Berhad wish to announce that:-

  1. Sona Petroleum had, on Oct. 24 entered into a facility agreement with BNP Paribas and RHB Bank (L) Ltd (as Joint Lead Arrangers) for a $140 million loan facility to part finance the Proposed Transaction (Financing). The Financing is conditional upon, inter-alia, the approvals of the Securities Commission and the shareholders of Sona Petroleum, for the Proposed Transaction being obtained; and
  2. Sona Petroleum had, on Oct. 27, received a notice from SEBHL and Salamander pursuant to the SPA stating that the board of Salamander has received a conditional proposal from Ophir Energy Plc with respect to a potential offer for Salamander, the terms of which Salamander is seeking to clarify. Salamander had also stated that it had received an approach by a consortium led by Compania Espanola de Petroleos but it has not yet received any proposal or confirmation that any offer will be forthcoming.

Sona Petroleum has taken cognizance that the Announcement stated, inter-alia, that “subject to the outcome of the ongoing negotiations described above, the board of directors of Salamander continues to believe that completion of the Sona Transaction is in the best interests of its shareholders."

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Executive Protection Coordinator
Expertise: Risk Management|Security
Location: TX
 
United States Denver: Proposals Specialist
Expertise: Business Development|Marketing|Sales
Location: Denver, CO
 
Landman - Midstream Surface Land
Expertise: Landman
Location: The Woodlands, TX
 
search for more jobs

Brent Crude Oil : $50.56/BBL 0.15%
Light Crude Oil : $47.7/BBL 0.70%
Natural Gas : $3.05/MMBtu 1.32%
Updated in last 24 hours