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Nido Petroleum bids for Otto Energy’s Galoc oil stake

Nido Petroleum has offered $US108 million in cash for a stake in the Galoc oil field in the Philippines, in what looks set to be the first of several M&A moves funded by its Thai majority owner, Bangchak Petroleum.

Angela Macdonald-Smith
Angela Macdonald-SmithSenior resources writer
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Oil junior Nido Petroleum ’s offer of $US108 million in cash for a stake in the Galoc oil field in the Philippines looks set to be the first of several M&A moves funded by its Thai majority owner Bangchak Petroleum.

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Angela Macdonald-Smith writes on the resources industry with a focus on energy, including gas, oil, electricity and renewables. Connect with Angela on Twitter. Email Angela at amacdonald-smith@afr.com
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    Original URL: https://www.afr.com/companies/energy/nido-petroleum-bids-for-otto-energy-s-galoc-oil-stake-20141215-1275qj