Oil company Ophir Energy has reached an agreement on a possible takeover offer for Salamander Energy.
In a statement jointly issued by the two oil companies, it has been explained that the possible deal would go through a share exchange where Salamander shareholders would be entitled to receive 0.5719 Ophir shares for each Salamander share.
Salamander Energy is an Asia-focused independent exploration and production company with a number of licences spread throughout Indonesia and Thailand.
The company had also been in takeover discussions with CEPSA and Strategic Energy (Global) Limited (“SEG”), which on Monday, November 17, announced they no longer have an intention to make an offer for Salamander.