The number of public listed North Sea operators that could be a suitable fit for a reverse takeover have “diminished significantly”, according to an industry experty.
‘The valuations for E&P companies on the stock market are not very attractive’ – could we see more North Sea reverse takeovers?
The reverse takeover model could become more of a permanent fixture in the North Sea in the coming years as more private-equity (PE) backed operators look to go public.
Zenith Energy has struck a first deal in Africa with an agreement to buy an 80% stake in the local unit of troubled Anglo African Oil & Gas (AAOG) in Congo Brazzaville.
Shareholders of BGL Group have accepted Australian firm Forte Energy's offer to acquire the 49.7% of the company it did not already own.