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Announced

Completed

Empire Energy completed the acquisition of an 83% stake in Beetaloo basin from Pangaea Resources for c.$55m.

Financials

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Transaction Value£47m
Consideration TypeOrdinary Shares, Cash
Capital Owned-
Capital Bid For83%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Sources

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Tags

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petroleum tenements

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Domestic

Integrated Oil and Gas

Australia

Acquisition

Single Bidder

Private

Majority

Completed

Synopsis

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Empire Energy, an energy oil and natural gas exploration company, completed the acquisition of an 83% stake in five tenements across the Beetaloo Sub-basin onshore Northern territory from Pangaea Resources, an independent exploration and production company, for c.$55m. The acquisition is subject to Empire shareholder and Northern Territory government approvals. Completion is expected in June 2021.

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