Global coal seam gas company Dart Energy Limited is pleased to announce that all formalities related to the compulsory acquisition process for Apollo Gas Limited (Apollo) have now been completed, such that Apollo is now a 100% owned subsidiary of Dart.
Dart CEO and Managing Director, Simon Potter said: “We are pleased to have now fully completed the Apollo takeover, and are already well advanced in terms of initiating work on the Apollo assets, and fully integrating Apollo in to the broader Dart business and team. Our 2011 drilling campaign in Australia will see work across the Apollo portfolio, and the first well has already been spudded on PEL 459”.
To the extent not already done, Dart shares will be issued to Apollo security-holders subject to compulsory acquisition upon those Apollo security-holders returning the claim forms previously despatched.
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Source: Dart Energy, February 8, 2011;