Mar. 17, 2014, 8:42 AM
- TransGlobe Energy (TGA) and Caracal Energy (CCAXF) agree to merge through an exchange of shares, creating a $1.8B venture focused on oil production in Africa with improved finances and bigger growth potential.
- Caracal shareholders are expected to hold ~65.6% of the new company, with the reaminder held by former TGA shareholders.
- TGA +4.5% premarket.
Caracal Energy Inc. is a Canadian based international oil exploration and development company active in the Republic of Chad. In 2011 the Company signed three production sharing contracts with the government of the Republic of Chad providing exclusive rights to explore and develop reserves and... More
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