Former InterOil CEO seeks to derail $3 billion Oil Search takeover
The founder of one of Papua New Guinea’s most important gas companies is trying to derail Oil Search’s $3 billion takeover bid for InterOil the company which discovered the Elk-Antelope gas field, the biggest new gas reserve found in a generation.
Oil Search said the takeover will lead to synergies between PNG’s yet-to-be-built second gas project, known as Papua LNG, which will be based on Elk Antelope and the ExxonMobil-led PNG LNG project.
InterOil founder and former managing director Phil Mulacek is opposing the takeover of InterOil, as David Lennox from Australian-based stock broking house Fat Prophets, explains.
Source: Pacific Beat
Duration: 3min 33sec