Search results for: Westside

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A list of search results

  • 17 March 2014

    WestSide’s Director Angus Karoll has advised the company of his resignation as a Director, WesSide said in a statement on Monday. WestSide Chairman, Rob Neale said: “Angus founded WestSide and has participated in building the company to where it is today.” “He leaves WestSide in a very strong position, poised to capitalise on the growing […]

  • 21 November 2012

    WestSide Corporation said it has received an indicative, conditional, nonbinding and confidential proposal from a party which has conducted extensive due diligence on the company. This proposal involves the acquisition of 100 per cent of the shares in WestSide for cash consideration of 52 cents a share. WestSide said is facilitating access to final due […]

  • 14 July 2014

    After initially rejecting the offer from Landbridge as unconditional, WestSide informed that one the largest shareholder, New Hope Corporation Limited, sold its shares to Landbridge, thus giving the company notable influence over WestSide in the future. According to the Landbridge’s announcement, it now had a relevant interest in 49% of WestSide’s shares. “This puts Landbridge in a position to […]

  • 19 June 2014

    WestSide Corporation is assessing funding proposals and indicative term sheets received from several potential lenders to finance an expansion of the Meridian gas field near Moura in central Queensland. WestSide’s Managing Director Mike Hughes said several Australian-based and international financiers have proposed debt facilities sufficient to fund WestSide’s 51 per cent share of the expected cost of expanding the […]

  • 2 May 2014

    WestSide said that a contract to sell the company’s Schramm drilling rig has settled following receipt of a total consideration of $3.5 million. WestSide disclosed in its December half year accounts that the company had entered into a contract on 23 January 2014 to sell the drilling rig and associated assets. WestSide’s Managing Director Mike […]

  • 13 February 2012

    Australia’s WestSide Corporation said today that it has received a A$165 bid from an unrelated party to acquire all of the shares in the company. “The Indicative Proposal states that the price is based on a number of assumptions about WestSide’s business, including its share of gas reserves and gas delivery rates from its existing […]

  • 17 February 2014

    WestSide Director Nathan Mitchell has resigned from the WestSide Board. Mitchell is re-establishing a presence in the drilling industry through Mitchell Services Limited. “I am grateful for having had the opportunity to serve on the WestSide Board for the past five years, and I offer my best wishes for the company’s continued success,” said Mr Mitchell. “Nathan’s […]

  • 14 May 2013

    PetroChina has withdrawn a 185 million Australian dollar (US$184.7 million) offer to take over CSG player WestSide. PetroChina said that it has decided to withdraw from negotiations with WestSide “because the general situation in Australia has changed so much“. “WestSide will intensify its focus on several valuable commercial opportunities available to the Company as an […]

  • 9 October 2015

    Armour Energy responded to media reports on the revised takeover bid from WestSide Corporation for all of the ordinary shares in the company.

  • 5 March 2013

    WestSide Corporation announced that discussions are continuing with parties which have expressed an interest in entering into material transactions with the company, including the potential acquisition of 100% of the shares in WestSide. “The WestSide Board has decided to bring this process to a conclusion in the near term,” WestSide said in a staement. “WestSide […]

  • 10 March 2014

    Landbridge Group, a company based in Shandong Province, China, said that it conditionally intends to make an unsolicited off market takeover bid for all of the shares in WestSide Corporation for cash consideration of $0.36 per share ($160 million). “The Board of WestSide is currently reviewing the terms o f the Intended Bid, and the […]

  • 12 September 2013

    Coal seam gas  producer WestSide Corporation announced the appointment of international oil and gas sector executive Mike Hughes as CEO to lead the company during its next exciting growth phase. Hughes is a seasoned oil and gas industry executive who has previously worked as Gas Supply Director for Santos Limited’s Gladstone Liquefied Natural Gas (GLNG) […]

  • 2 March 2012

    WestSide Corporation of Australia said today that it has received a $178 million takeover offer from LNG Limited. “WestSide has entered into a confidentiality agreement with LNG Limited and granted due diligence access on a non-exclusive basis,” the company said in a statement. “LNG Limited has only recently begun its due diligence. The due diligence […]

  • 5 May 2014

    WestSide of Australia said on Monday that it has rejected a takeover offer from Landbridge Group of China. “WestSide’s board of directors has carefully considered the conditional offer for $0.40 per WestSide share contained in the bidder’s statement and is of the view that it does not represent fair value for the company as, amongst […]

  • 4 August 2011

    WestSide Corporation Ltd has exited its Indonesian joint venture, enabling the Company to focus exclusively on its Meridian SeamGas and Bowen and Galilee Basin projects in Queensland. Under an agreement terminating the Company’s Heads of Agreement with PT Bumi Resources TBK (Bumi) and its subsidiaries, WestSide has secured unencumbered ownership of the Schramm TXD 180 […]

  • 18 March 2014

    WestSide said it has notified the Queensland Department of Natural Resources and Mines that it will relinquish its interests in ATP 974P and ATP 978P in Queensland’s Galilee Basin to focus on development of its producing Meridian SeamGas gas field. “WestSide has a unique opportunity to benefit from demand growth within the changing East coast […]

  • 21 December 2017

    Westside New Zealand Limited has been granted one 12-year offshore permit in the Taranaki Basin, offshore New Zealand. The permit PEP 60402 has an area of 547 square kilometers. The new petroleum exploration permit has been granted as part of Block Offer 2017. This was the only permit awarded in the offer. According to the New Zealand […]

  • 29 December 2011
    Project & Tenders

    WestSide Corporation Limited and Meridian SeamGas joint venture partner Mitsui E&P Australia Pty Ltd have executed an agreement to fast-track access to gas to aid fulfilment of existing contracts and reduce payments to remedy shortfalls. The agreement with a leading market participant provides the Meridian SeamGas joint venturers with flexibility on borrowed gas volumes during […]

  • 15 October 2012

    WestSide Corporation announced that due diligence investigations are continuing in connection with a potential change of control transaction involving WestSide. On 13 February 2012, WestSide announced that a potential acquirer, later identified as Liquefied Natural Gas Limited, had been granted due diligence access on a non-exclusive basis to progress its indicative acquisition proposal. WestSide has […]

  • 25 October 2013

    WestSide Corporation announced that the Board has appointed Robert Neale as Chairman and Mike Hughes as Managing Director of the company, effective immediately. Founder and former chairman Mr Angus Karoll will remain on the Board as a non-executive director. Karoll said Hughes, who joined WestSide as CEO last month, brought to the Board a broad […]

  • 12 December 2012

    WestSide Corporation said that the party from which the company received an indicative, conditional, non-binding and confidential proposal on 19 November 2012, has requested and been granted additional time to conclude due diligence. WestSide initially agreed not to solicit proposals from other parties for a period of three weeks to allow time for further due […]

  • 23 April 2014

    WestSide, the operator of the Meridian gas fields near Moura in Queensland’s southern Bowen Basin, said that the first phase of the field’s expansion is on track to start within one month when drilling commences on the first well of a six-well program. WestSide’s Managing Director Mike Hughes said the Phase 1 well program, involving six […]