Brisbane, July 11, 2008 (ABN Newswire) - Queensland Gas Company Limited (ASX:QGC)(PINK:QGSCF) today announced that it will increase its offer for Roma Petroleum NL (Roma)(ASX:RPM).
QGC will increase its offer:
- From 10 cents cash and 0.0177 shares in QGC for each share in Roma;
- To 11 cents cash and 0.0177 shares in QGC for each share in Roma.
Roma shareholders who have already accepted QGC's offer will be entitled to the increased consideration.
QGC has also declared its offer free from defeating conditions.
Notices given in accordance with the Corporations Act 2001 (Cth) in relation to the variation of QGC's offer and declaring QGC's offer free from conditions are attached to this announcement.
QGC also confirms that Oil Drilling & Exploration Limited (OD&E) has formally accepted into QGC's offer in relation to the 48,805,000 Roma shares held by OD&E. At the time of lodging this announcement, QGC's voting power in Roma was approximately 22.44 per cent.
About QUEENSLAND GAS COMPANY LIMITED
QGC is a publicly-listed gas production company that is focused on becoming an integrated energy supplier in Australia. The Company's successful exploration and appraisal activities have provided a solid foundation for future growth, with ample reserves of coal seam gas ready to meet Australia's growing demand for clean, efficient energy.
Contact
Information for Media: Mr Hedley Thomas General Manager Communications and External Relations Direct: +61 7 3020 9043 Mobile: +61 417 797 419
ASX Contact: Mr Mark Anning Company Secretary Direct: +61 7 3020 9012
Information for investors: Mr Ian Davies Chief Financial Officer Direct: +61 7 3020 9040
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