04 Aug 2014

Clayton Utz advises Nido Petroleum Limited on A$120 million takeover

Perth, 4 August 2014: Clayton Utz is advising ASX-listed Nido Petroleum Limited (Nido) in connection with the A$120 million recommended off market conditional cash offer by BCP Energy International Pte. Ltd (BCPE), a wholly owned subsidiary of The Bangchak Petroleum Public Company Limited, a company listed on the Stock Exchange of Thailand.

The offer follows BCPE's agreement to acquire a relevant interest in Nido of approximately 19.66 per cent from Petroleum International Investment Corporation, a major shareholder of Nido.

Clayton Utz Perth Corporate partner Mark Paganin and senior associate James Clyne led the Clayton Utz team.

Nido is a South East Asian focused oil and gas exploration and production company whose primary focus is in the North West Palawan Basin in the Philippines and the Penyu and West Natuna basins in Indonesia.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.