Beach Closes Offer for Adelaide Energy (Australia)

Beach Energy Limited announced that its offer for Adelaide Energy Limited closed today. Beach has increased its interest to 96.99%, and will commence procedures for the compulsory acquisition of all remaining Adelaide Energy shares.

Adelaide Energy shareholders who have not sold their shares into the offer will receive a compulsory acquisition notice from Beach.

The notice will detail how the compulsory acquisition will proceed.

[mappress]

LNG World News Staff, December 22, 2011