SDX Terminates Talks Over BP's Egyptian Assets
North Africa-focused oil company SDX Energy has terminated talks for a potential acquisition of assets in Egypt from the oil giant BP.A press release from SDX announced that further to the announcement made on September 20, 2018, discussions regarding its proposed acquisition of a significant package of assets in Egypt from BP have been terminated by mutual agreement.As the acquisition is no longer proceeding, the suspension of the company’s shares from trading on AIM will be lifted from 7:30 a.m. on October 18, 2018.
Maha Energy and Palliser Oil & Gas to Amalgamate
Maha Energy Inc. and Palliser Oil & Gas Corporation are pleased to announce that they have entered into an amalgamation agreement pursuant to which Maha and Palliser will amalgamate to form a new corporation to be called "Maha Energy Inc.". Palliser has also closed a minor asset disposition with Maha and entered into two farmout arrangements with Maha. Pursuant to the Amalgamation, shareholders of Palliser will receive 0.1393 of a common share of New Maha for each common share of Palliser and shareholders of Maha will receive one New Maha Share for each common share of Maha. Based on the price of US$1.25 per Maha Share, being the price at which Maha recently raised US$10 million of gross proceeds in a private placement of Maha Shares…