Deltic Energy plc said that Petrogas International E&P Coöperatief U.A. had confirmed it did not intend to make an offer for the UK North Sea-focused company.
TALKS
Deltic has been under a £7.2 million cash offer since 7 May from Neo Next+ Energy Upstream UK Ltd.
Petrogas’ withdrawal follows Capricorn Energy plc’s announcement on 19 May that it did not wish to make an offer.
Private Norwegian firm Blue Concept Hld AS, which was also in tallks with Deltic for a possible offer, has yet to make clear its position.
Deltic assets include 25% of the Shell-operated Selene prospect, which holds discovered gross 2C contingent resources of 174 billion cubic feet of gas, in the UK Southern North Sea.
