15:51 AEST May 21, 2012 ABN Newswire (C) 2004-2012 Asia Business News PL. All Rights Reserved.
Adelaide, Australia (ABN Newswire) -
Beach Energy Limited (ASX:BPT), as a majority shareholder of Somerton, advises that it will accept the off-market takeover offer by Cooper for Somerton in the absence of a higher offer.
Beach Energy advises that, in the absence of a higher offer, it will accept the off-market takeover offer by
Cooper Energy Limited (ASX:COE) for Somerton Energy Limited (ASX:SNE).
Beach is yet to decide whether it will accept either the scrip and cash or the full scrip offer for its Somerton shares.
About Beach Energy Limited:
Beach Energy Limited (ASX:BPT) is a long established oil and gas Exploration and Production Company, based in Adelaide, South Australia.
Contact:
Beach Energy Limited
T: +61-8-8338-2833
F: +61-8-8338-2336
WWW:
www.beachenergy.com.au
