Corporate: Tangiers in friendly Jacka takeover


Issue 267 - 05 Dec 2013 | 1 minute read
Eve Howell’s Tangiers Petroleum has agreed a takeover of Jacka Resources, giving it new assets in Tunisia, Nigeria, Tanzania, Somaliland and Australia. Tangiers is offering 0.468 Tangiers shares for every Jacka share held, in an off-market deal valuing Jacka at $37m. The combined company will have interests in two high impact wells planned for 2014: the TAO- 1 exploration well in the Tarfaya block in Morocco, operated by Galp Energia, and the Hammamet West-3 sidetrack on the Bargou permit in Tunisia.

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