Reach Energy Bhd Company News

Reach Energy secures Securities Commission Malaysia's (SCM) approval for its acquisition of a stake in Palaeontol B.V., which owns an onshore oil and gas block in Kazakhstan.

Malaysia's Reach Energy receives approval from the authorities to acquire a 60 percent stake in Palaeontal B.V., giving it ownership of an onshore block in Mangistau Oblast in Kazakhstan.

Kazakhstan's Ministry of Energy approves MIE Holding's transfer of a 60 percent stake in Palaeontal B.V. to Malaysia's Reach Energy, with the latter edging closer to acquiring its first upstream asset.

Malaysia's Reach Energy edges closer to completing a $154.9 million deal to acquire Palaeontol B.V., which owns an onshore oil and gas block in southwest Kazakhstan.

Malaysia's Reach Energy to acquire 60 percent interest in Palaeontol B.V. for $154.9 million, giving the firm ownership of an onshore block in Kazakhstan.

Reach Energy, set up by veterans in Malaysia's oil and gas industry, made its market debut in Kuala Lumpur after completing the country's largest-ever initial public offering by a special purpose acquisition company (SPAC.)

Reach Energy intends to acquire its first upstream oil and gas asset within two years of its initial public offering on Bursa Malaysia.

Malaysia's Reach Energy, a special purpose acquisition company with no existing assets, locked in up to seven cornerstones for its $236.93 million IPO, two sources involved with the deal say.