Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Tommaso who wrote (82840)	12/27/2000 1:14:10 PM
From: jim_p	Read Replies (2) of 95453

Hunt Oil Company announces offer to acquire Berkley CALGARY, Dec. 27 /CNW/ - Hunt Oil Canadian Acquisition II Corporation, a wholly-owned subsidiary of Hunt Oil Company ("Hunt Oil"), one of North America's largest independent oil and gas companies, today announced that it will offer to acquire all of the outstanding common shares of Berkley Petroleum Corp. (TSE: BKP - news; "Berkley"), a Calgary-based oil and gas exploration and production company. Hunt Oil currently owns approximately 9.6% of the outstanding shares of Berkley. The all-cash offer of CDN $10.00 per share represents a 27% premium to Berkley's 30-day average weighted price of CDN $7.88 and a 15% premium to the closing price of CDN $8.70 per Berkley share on The Toronto Stock Exchange for December 22, 2000. The total value of the transaction is approximately CDN $1.4 billion, including approximately CDN $379 million of Berkley debt as of September 30, 2000. Hunt Oil has sufficient resources on hand to pay for all of the shares of Berkley biz.yahoo.com I wish I had your luck. Jim

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