TSXV:CVI.P - Post by User
Comment by
GMJFARon Aug 23, 2012 9:05am
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Post# 20250940
RE: DNO 'Moving on to other opportunities' after C
RE: DNO 'Moving on to other opportunities' after C Top News
DNO says will not bid for Calvalley Petroleum
Thu, Aug 23 02:10 AM EDT
OSLO, Aug 23 (Reuters) - Oslo-listed DNO International will not make an offer to buy Calvalley Petroleum Inc. after talks with the company failed to provide it with enough information regarding litigation by Al-Zarqa Electricity, it said on Thursday.
"Given that DNO International has been unable to determine the exact nature of the Al-Zarqa claim or quantify the impact of potential liabilities that may or may not arise as a result, DNO International has not been able to agree terms with the Special Committee on either price or structure," it said.