Amadeus gets takeover bids from US companies
US-based companies have expressed their interests for a takeover bid to a Western Australian-based oil and gas producer.
It was revealed on Thursday that Amadeus Energy has received love calls from US companies regarding the takeover bid. Shares of the company traded at 4.5 cents or 24.32 per cent at 23 cents after the news was reported at the Australian Securities Exchange.
Amadeus has requested Macquarie Capital Advisers Limited as its advisers. The company explains that Macquarie was the right choice because of its experience in doing transactions with US oil and gas assets.
"As a result of these approaches the board has requested Macquarie Capital Advisers Ltd to review all of the options available to Amadeus to unlock the value of its underlying assets," Amadeus said on Thursday.
"The board of Amadeus believes that the current market value of Amadeus' shares does not properly reflect the underlying value of the company's assets and it is therefore important to explore all options for bridging that value gap," it said.
Amadeus did not disclose the names of the companies or how much were the offers for their assets.
Amadeus possesses a number of oil and gas fields, explorations, and projects in the United States, including Kansas, Louisiana, North Dakota, Oklahoma, and Texas.
The company generates at least 1,850 barrels of oil equivalent per day net, from its oil and gas property projects.