Skip to main content

InterOil shareholders overwhelmingly approve ExxonMobil transaction

Published by
Oilfield Technology,


InterOil Corp. announced that at a Special Meeting, its shareholders overwhelmingly voted to approve the transaction with Exxon Mobil Corp.

More than 80% of the votes were in favour of the proposed transaction.

"I would like to thank our shareholders for their overwhelming support for this value-creating transaction," said InterOil Chairman Chris Finlayson. "This transaction delivers shareholders a material and immediate premium, a potential direct cash payment based on the Elk-Antelope resource certification and exposure to future value through ownership of ExxonMobil shares.

We look forward to continuing to work with ExxonMobil to satisfy the last required conditions and to completing the transaction promptly.”

The transaction is expected to close by the end of September 2016. InterOil plans to seek a final order at a hearing in the Supreme Court of Yukon, on 27 September 2016.

Edited from press release by

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/22092016/interoil-shareholders-overwhelmingly-approve-exxonmobil-transaction-28452/

You might also like

Senex to invest US$1 billion to boost to the natural gas industry

The Australian Petroleum Production & Exploration Association (APPEA) welcomed Senex’s major expansion of its Atlas and Roma North natural gas developments in Queensland’s Surat Basin, lifting natural gas production to 60 petajoules (PJ) per year.

 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Oil & gas news