Roc Oil Company to acquire Tethys Oil for SEK1.9bn.

Roc Oil Company, a petroleum company based in Sydney, Australia, agreed to acquire Tethys Oil, a Swedish energy company focused on exploration and production of oil, for SEK1.9bn. "We believe the all-cash Offer is a compelling outcome of Tethys’ strategic review and presents Tethys’ shareholders with an opportunity to realise value at a very attractive premium. Tethys is a unique independent company with quality assets that are an excellent fit with ROC’s existing portfolio. Transitioning to a larger operator would enable Tethys’ business to realise its full potential as we see opportunities for new investments into prospects and development of discoveries. The proposed acquisition also aligns with our long-term strategy, to grow profitably in core upstream areas, expand our footprint in strategically important energy regions and commercialise large undeveloped oil and gas resource bases," Lei (David) Teng, ROC Chairman.