Seeking Alpha

Pacific Rubiales to buy Petrominerales in $1.6B deal

  • Pacific Rubiales Energy (PEGFF.PK) agrees to acquire Colombian oil producer and explorer Petrominerales (PMGLF.PK) in a deal totaling $1.6B, including the assumption of ~$640M in net debt.
  • The transaction includes 18 exploration and development properties in Colombia and four blocks in Peru, covering a total of nearly 40K gross sq. km and producing ~19M bbl/day of net oil in H1 2013.
Comments (1)
  • River18
    , contributor
    Comments (2072) | Send Message
     
    I'm not selling my Petrominerales PMGLF shares until I get my $11.00 in cash and one new share of ("ExploreCo").

     

    http://yhoo.it/15H4fRB

     

    Also long Pacific Rubiales Energy (PEGFF.PK), and only got dinged $1.16 on the news.
    30 Sep 2013, 08:49 PM Reply Like
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