Melbana is planning to make an all-share offer to take over 100% of Metgasco, offering 4 of its shares for every 1 of Metgascoâs (a 48% premium on its closing price last Friday). Metgasco has stakes in acreage in Australia and in the shallow water GoM, where it recently participated in the South Marsh Island 74 D-14 expl well, a duster for operator Byron Energy.
Melbana is planning to make an all-share offer to take over 100% of Metgasco, offering 4 of its shares for every 1 of Metgascoâs (a 48% premium on its closing price last Friday). Metgasco has stakes in acreage in Australia and in the shallow water GoM, where it recently participated in the South Marsh Island 74 D-14 expl well, a duster for operator Byron Energy.