Nido Petroleum directors have unanimously recommended off market takeover bid by BCP Energy International, subsidiary of Thai oil refinery Bangchak, for 5.5 cents per share.
Shares in Ausdrill and Nido Petroleum have entered a trading halt and suspension respectively; with Ausdrill stating it will announce an impairment charge.
BCP Energy International has announced it will acquire over 400 million shares in oil and gas explorer Nido Petroleum from Abu Dhabi’s Petroleum International Investment Corporation (Ipic).
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