.MRLMinRes has flagged a takeover offer for JV partner Norwest Energy exploration resources gas acquisition ASX
PERTH – ASX-listed Mineral Resources has flagged an off-market takeover offer for its joint venture partner ASX-listed Norwest Energy.
MinRes, which already holds a near 19.9% interest in Norwest, told shareholders that the script offer meant Norwest shareholders would retain exposure to the two exploration permits, which include the Lockyer Deep gas discovery, but meant that shareholders would no longer be exposed to funding and development uncertainties.
The company said in a statement on Friday that its interest in and operatorship of EP 368 and EP 426 underpins the its view that acquiring minority joint venture partner Norwest is a logical and accretive addition to unlocking the potential of its portfolio of gas assets. “MinRes has become one of Australia’s most successful companies because of our ability to identify and act early on opportunities that benefit all of our shareholders,” said MD“We started accumulating what is now the largest acreage position in the onshore Perth and Carnarvon Basins in 2015 with a clearly articulated strategy to lock in a low-cost, long-life energy supply for our operations.
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