PERTH, Dec 22 (Reuters) – Arrow Energy Ltd (AOE.AX), an Australian coal seam gas producer, has offered A$673 million ($460 million) for fellow coal seam gas firm Pure Energy Resources Ltd (PES.AX) as it looks to boost its reserves.
Australia’s coal seam gas sector has seen a seen a number of multi-billion dollar deals earlier this year as several gloal energy majors, struggling to secure access to conventional oil and gas resources, target coal seam gas as a new feedstock for liquefied natural gas plants.
Arrow Energy, which already owns 19.9 percent of Pure Energy, said the offer is A$2.70 in cash plus 1.21 Arrow shares for every Pure share. Pure has recommended the offer.
The total consideration of A$5.40 per share represents an 81 percent premium to Pure’s last traded price of A$2.98 on Dec. 19 and a 147 percent premium to its one-month volume weighted average share price, Arrow said in a statement.
Shares in Pure Energy jumped 55.7 percent to A$4.64 by 0325 GMT, indicating that investors were not expecting a higher offer. Arrow’s share fell 6.85 percent to a one-week low of A2.04.
The cash component of the offer will be funded via a combination of Arrow’s existing cash reserves and proceeds from the firm’s recent 30 percent sale of its Australian upstream interests to Royal Dutch Shell (RDSa.L).
Arrow Energy said the proposed acquisition would boost its uncontracted proved and probable (2P) gas reserves to more than 2 trillion cubic feet (tcf), which will be sufficient to support a proposed 3 million tonnes per annum liquefied natural gas project that it is involved in as well as existing gas sales agreements.
Arrow is being advised by Wilson HTM Corporate Finance. ($1=1.464 Australian Dollar) (Reporting by Fayen Wong)
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Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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