02-25-2014, 09:18 AM
$1.2 billion for 20% equates to $6 billion
"Oil Search has gone into a trading halt ahead of an acquisition announcement.
The Papua New Guinea-based (PNG) oil and gas producer is due to release its full year financial results on Tuesday.
Oil Search has been considering taking a $1.2 billion 20 per cent stake in a joint venture with InterOil and French giant Total SA to develop the Elk and Antelope gas fields in PNG."
"Oil Search has gone into a trading halt ahead of an acquisition announcement.
The Papua New Guinea-based (PNG) oil and gas producer is due to release its full year financial results on Tuesday.
Oil Search has been considering taking a $1.2 billion 20 per cent stake in a joint venture with InterOil and French giant Total SA to develop the Elk and Antelope gas fields in PNG."