rumours about takeover of afren plc, page-2

Correct Wasa, last night I posted the below article in the thread:

eni & exxon looking to takeover afren ? (Dknow)
Post: 8290338 10/07/12 17:50

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Brokers won't be out of Africa

By Geoff Foster
PUBLISHED: 21:00 GMT, 9 July 2012 | UPDATED: 21:00 GMT, 9 July 2012

Broker Citigroup has in the past forecast that East Africa could become one of the largest exploration plays in the next decade.

All of the major oil and liquefied natural gas groups are apparently champing at the bit to acquire strategic entry in the region. Not a lot has happened in the sector, but whispers yesterday suggested all is about to change.

Indeed, shareholders of Africa-focused Afren, 1.8p easier at 104.8p, could soon strike it lucky because rumours were rife that ENI, Italy’s multi-national oil and gas company, and Exxon Mobil, the world’s largest energy company, are both running the slide rule over the firm. Either one could launch a bid in the region of £2.15bn cash or £2-plus a share.

Malcolm Graham-Wood, oil guru at VSA Capital, is a big fan of Afren. He says it has a good mix of production and exploration and its geographical footprint now ranges from its Nigeria roots across Ghana and into Kurdistan. The company offers exposure to some of the most exciting prospective areas in the world. Afren has much to offer.

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http://www.thisismoney.co.uk/money/markets/article-2171074/MARKET-REPORT-Brokers-wont-Africa.html