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WA this week 10 years ago - Mobil prepares for Ampolex fight

AMPOLEX, the target of a $1.5 billion takeover by Mobil, may face legal action if it tries to sell its stake in the Gorgon gas field off the Western Australian coast. Ampolex was queried by the Australian Stock Exchange this week 10 years ago over a newspaper article in which it was claimed BHP was interested in acquiring Ampolex’s 14.2 per cent share in the Western Australian Petroleum joint venture. In the face of Mobil’s takeover, Ampolex said it was pursuing other alternatives but was not the source of the article. A Mobil spokesman confirmed the company had sought legal advice over the prospect of an asset sale by Amploex and would take action if the company breached ASX listing rules or pursued a strategy that was detrimental to the interests of its shareholders.

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