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5 stories mentioning ECO.L

Every FINWIRES story that references ECO.L, newest first.

Equities

Westmount-backed JHI Secures Approval for Takeover by Eco (Atlantic) Oil & Gas

Westmount Energy's (WTE.L) investee JHI Associates secured shareholder and the Ontario Superior Court of Justice (Commercial List) clearances for its takeover by Eco (Atlantic) Oil & Gas (ECO.L).The oil and gas investing company said Tuesday the plan of arrangement for the takeover is still subject to a five-year license extension of the PL001 license, a cash balance of $1 million upon closing, government approvals, and other conditions.

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Equities

Eco (Atlantic) Oil & Gas Bags Canadian Court Approval for JHI Takeover

Eco (Atlantic) Oil & Gas (ECO.L) said Monday its takeover target, JHI Associates, received final order approval from a Canadian court.The Ontario Superior Court of Justice (Commercial List) approved the proposed takeover arrangement, the oil and gas exploration company said.The remaining conditions required for completion include a five-year license extension from the Falkland Islands Government, among other approvals.

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Equities

JHI Associates Secures Interim Court Order for Shareholder Meeting Linked to Eco Bid

The Ontario Superior Court of Justice (Commercial List) granted an interim order allowing JHI Associates to convene a shareholders' meeting to vote on the plan of arrangement relating to Eco (Atlantic) Oil & Gas' (ECO.L) proposed takeover.As such, JHI has set its annual and special shareholders' meeting for May 12, according to a Thursday filing. If approved by shareholders, JHI will seek the court's final sanction on the arrangement on May 15, with completion expected by the end of the third quarter, subject to customary closing conditions and regulatory approvals.On March 11, the oil and gas company entered into a binding agreement to acquire the remaining JHI shares it does not own through an exchange ratio of 0.7054 Eco share for each JHI share.

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Equities

Update: BP to Acquire Majority Stake in Three Namibian Offshore Exploration Blocks

(Updates to add more information)British oil and gas giant BP (BP.L) agreed to acquire a 60% interest in the PEL97, PEL99, and PEL100 offshore exploration blocks offshore Namibia from Eco Atlantic Oil & Gas (ECO.L).The deal remains subject to Namibian government approvals, with BP to become the operator and Eco Atlantic to continue as a partner on the three blocks, alongside Namibia's national oil company Namcor, according to a Monday release from BP.In a separate same-day statement, Canada-based Eco said it will receive a one-time cash consideration of $2.7 million upon closing. It will keep a 25% interest in the licenses.

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Equities

BP to Acquire Majority Stake in Three Namibian Offshore Exploration Blocks

British oil and gas giant BP (BP.L) agreed to acquire a 60% interest in the PEL97, PEL99, and PEL100 offshore exploration blocks offshore Namibia from Eco Atlantic Oil & Gas (ECO.L).The deal remains subject to Namibian government approvals, with BP to become the operator and Eco Atlantic to continue as a partner on the three blocks, alongside Namibia's national oil company Namcor, according to a Monday release.

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