Linc Energy shares jump on offers for US oil assets
Firm says talks are in the early days, no assurance of formal offer
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
LINC Energy's shares jumped nearly 8 per cent, or nine cents, to S$1.24 on Wednesday after the oil and gas exploration firm revealed that it has received unsolicited offers for its assets in the US.
The firm is now working with these parties to see if an agreement can be reached, it said, adding that there is no assurance that these can result in a formal offer.
"It is early days on the oil asset negotiations but it is always nice to receive unsolicited approaches on our assets that reconfirm the underlying value and provide third party validation," said its CEO Peter Bond.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
