Poco makes $163-million offer for Pan East

Article Abstract:

Poco Petroleums Ltd., one of Canada's largest natural gas producers, has made a C$163-million friendly takeover bid for Pan East Petroleum Corp., a junior gas producer with gas wells in northwestern Alberta. Under the terms of the deal, Poco will pay C$2.65 in cash or 0.797 of one of its shares for each Pan East share. To finance the deal, Poco is issuing 12 million shares at C$14.25 in a move that will generate C$171 million. The acquisition is expected to add about 30 million cubic feet of gas a day to Poco's daily production of 520 million cubic feet.

Comment:

Makes a C$163-million friendly takeover bid for Pan East Petroleum

Canada, Asset sales & divestitures, Acquisitions & mergers, Natural Gas, Petroleum, Gas industry, Article, Pan East Petroleum Corp., Poco Petroleums Ltd.

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Oil industry seeks break to cushion Kyoto costs: Alberta, not Ottawa, wanted to referee whether oil patch is meeting goals

Article Abstract:

The Canadian oil industry is writing off any Kyoto-related costs against royalties and taxes as it aims to reduce the blow of the greenhouse-gas impact in August 2005. The Kyoto accord aims to constrain the growth of greenhouse gases in several Western nations through 2 012, as a first step to deeper reductions later in that decade.

Commodity & service prices, Crude petroleum and natural gas, Taxes, Petroleum refining, Taxation, Prices and rates, Growth, Greenhouse gases, Company growth, Company pricing policy, 2012 AD

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