Hancock Energy has gained control Warrego Energy Ltd. following rival bidder Mineral Resources Ltd.’s sale of its accumulated interest in Warrego to Hancock at $0.36/share (Aus.).
Hancock now holds majority interest in Warrego (50.54%.)
MinRes told the Australian Security Exchange in mid-January that it had acquired Warrego shares on market in three tranches up to a total interest of 19.17%. Those shares are now held by Hancock.
The remaining rival bidder, Strike Energy Ltd. (Warrego’s JV partner in West Erregulla gas field) holds 24.91% as of close of trading on Feb. 3.
Hancock’s majority control of Warrego means that its offer of $0.36/share (Aus.) is automatically extended by 2 weeks with close now scheduled Feb. 24.
