Tap Oil Ltd announced that it had received an unconditional, on-market takeover offer from Risco Energy Investments (SEA) Ltd.Â  Under the terms of the deal, Risco Energy has made an offer of AUD 0.07 cash per share, which values Tap Oil and AUD 29.8 million.  The offer price is a 14.85% premium on the closing share price as of 1 May 2018 and a 27.9% premium on the 30 day weighted average share price. Â   Risco reported that it has appointed Morgans Financial Ltd to assist in the takeover offer.  Tap had recently announced that it is planning to exit Australia and was seeking to divest its Australian portfolio after completion of a strategic review of all assets. This is to allow it to focus on the producing Manora asset in Thailand.Â  It is thought that Tap is seeking to divest all of its interest in its Australian licences to focus on the Thailand asset.
Australia, not found