Shares in Queensland coal seam gas explorer Bow Energy are now trading about 60 per cent higher after a $520 million takeover offer by foreign-owned Arrow Energy.
Bow Energy shares closed trade yesterday at $1.41, just below the $1.48 per share price offered by Arrow.
Arrow Energy, jointly owned by PetroChina and Royal Dutch Shell, is developing a liquefied natural gas (LNG) export facility at Curtis Island off Gladstone and wants to build on its coal seam gas assets in Queensland to maximise output at the plant. Read More
ABC Rural
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