Source Pravda.Ru

Ensign Announces Australian Oil & Gas Acquisition

Ensign Resource Service Group Inc. announced that its wholly-owned subsidiary, Ensign (Australia) Holdings Pty Limited, has acquired in excess of 50% of the shares of Australian Oil & Gas Corporation Limited ("AOG") on a fully diluted basis. Under Ensign's offers, AOG's shareholders will realize AU$2.70 cash for each AOG share and AU$1.50 cash for each ASX quoted AOG option. Ensign's successful bid values AOG at approximately AU$175 million (CDN$150 million) on a fully diluted basis. Pursuant to Australian regulations, Ensign's bid is automatically extended two weeks to July 24, 2002 to enable AOG shareholders to tender their shares and options to Ensign's successful bid.

Selby Porter, President of Ensign Resource Service Group Inc. stated that "the acquisition of AOG provides a platform for future growth for the Ensign Group. Our strong North American operations will be augmented by AOG's international operations, thereby positioning the Ensign Group to effectively compete in an international oilfield services market." Ensign Resource Service Group Inc. is an oilfield services contractor based in Calgary, Alberta. The Ensign Group's Common Shares (symbol: ESI) are publicly traded through the facilities of The Toronto Stock Exchange.

©

&to=http://www.ensigngroup.com/' target=_blank>Ensign Resours Service Group

&to=http://www.austoilgas.com.au/' target=_blank>Australian Oil&Gaz

Comments
Why did Donald Trump recognise Jerusalem as the capital of Israel?
Why did Donald Trump recognise Jerusalem as the capital of Israel?
Russia unveils the date for the launch of the superbridge to Crimea
Why did Donald Trump recognise Jerusalem as the capital of Israel?
Why did Donald Trump recognise Jerusalem as the capital of Israel?
Russia on the eve of another Crimea referendum
Russia to install laser navigation system on the Moon
USA looking for reason to see nuclear weapons in action
Russia to build its own terminals in Egyptian airports
Putin prepares bitter and hysterical missile surprise to 'American partners'
Darwin and the Capital
Darwin and the Capital
Russian general says allegations of his involvement in MH17 crash are stupid
Russian general says allegations of his involvement in MH17 crash are stupid
IOC bars Russian athletes, excludes Russian national anthem and flag from Winter Olympics 2018
Trump's Military Q
Why did Donald Trump recognise Jerusalem as the capital of Israel?
Putin's remarks about collection of biomaterials may bury genetics
Su-35 fighter aircraft outfitted with artificial intelligence
Su-35 fighter aircraft outfitted with artificial intelligence
Putin's remarks about collection of biomaterials may bury genetics