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Mon, Oct. 6, 12:54 PM
- Dubai's Dragon Oil (OTCPK:DRAGF) is proposing a €492M ($789M) cash offer for Petroceltic International (OTC:PTIFF), both companies say, at a 29% premium to its Friday closing price in London.
- Dragon has long sought to diversify beyond its current reliance on Turkmenistan, where it has one successful offshore oil and gas asset, and any deal with Petroceltic would give it access to E&P assets in countries including Algeria, Egypt, Kurdistan and in the Middle East.
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