Company News - Arawak Energy to buy Siberian, Canadian firms

08/09/2004
Most recent merger and acquisition activity in the oil and natural gas industry has involved multinational corporations, while independent firms continue to trade upstream properties within the US and Canada.Arawak Energy Corp., Anguilla, British West Indies, plans to acquire a 50% interest in ZAO PechoraNefteGas of Western Siberia and a 100% interest in Altius Energy Corp., a Canadian company that operates in the Precaspian basin in western Kazakhstan.In other recent upstream news:Austria's OMV AG acquired 51% of state-owned Romanian oil company Petrom SA through a combined direct purchase of 33.34% interest and a simultaneous increase in Petrom's stock.Harvest Energy Trust agree...
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