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Coastal Energy Co., Ltd. (CENJF)

- OTCPK - Current
CENJF is defunct.
  • Nov. 19, 2013, 3:02 AM
    • Cepsa has agreed to buy Houston-based Coastal Energy (CENJF) for C$2.3B ($2.21B) including debt in a deal that will expand the Spanish oil company's exploration and production capabilities in Southeast Asia.
    • Cepsa is creating a new entity for the deal, with Strategic Resources Global an investor in the vehicle.
    • Cepsa, which is owned by Abu Dhabi's International Petroleum Investment Co, will pay C$19 per share, or a premium of 28% to Coastal Energy's closing price yesterday in Toronto yesterday. (PR)
    | Nov. 19, 2013, 3:02 AM | Comment!
  • Sep. 16, 2013, 6:25 PM
    • Coastal Energy (CENJF.PK) has received a $2.3B takeover offer from Strategic Resources Ltd., a subsidiary of Hong Kong-based PE firm Jynwel Capital, and Spain's CEPSA, Financial Post reports.
    • The offer is believed to equal $20/share, which would represent a premium of nearly 20%, but takeover interest last year from Indonesia's Pertamina fell through because of a disagreement over the price.
    | Sep. 16, 2013, 6:25 PM | Comment!
  • Jun. 4, 2013, 11:58 AM
    Goldman Sachs upgrades a batch of smaller European energy companies to Buy - including Coastal Energy (CENJF.PK), Gulf Keystone Petroleum (GUKYF.PK) and Heritage Oil (HGOCF.PK) - after underperforming larger peers in the past two years due to falling spot oil prices. The difference between their value and long-dated oil prices is the widest since 2009, “wide enough to offer compelling valuations," the firm says.
    | Jun. 4, 2013, 11:58 AM | Comment!
  • Nov. 8, 2012, 2:58 PM
    Coastal Energy (CENJF.PK +5.4%) is enticing traders with the prospect of the energy industry’s next bidding war, Bloomberg reports. Indonesian oil producer PT Pertamina reportedly sent a takeover proposal to major Coastal shareholders. Since Coastal operates mostly in the Gulf of Thailand, that nation’s state-controlled PTT could consider an offer.
    | Nov. 8, 2012, 2:58 PM | 1 Comment
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Company Description
Coastal Energy Company explores for and produces oil and natural gas. The Company operates in Southeast Asia.
Sector: Utilities
Industry: Water Utilities