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AUSTRALIA'S ORIGIN ALWAYS FOR SALE BUT AT RIGHT PRICE SAYS MD.
MELBOURNE, June 2 Asia Pulse - Power generator and retailer Origin Energy Ltd (ASX:ORG) says the Australian company is always for sale at the right price, but the price will have to be a lot more than A$15.50 (US$14.79) per share.
Origin managing director Grant King said its coal seam gas assets now made the company a far more valuable business.
Asked Sunday what he thought Origin as a whole was now worth, Mr King today told ABC TV: "A lot more than A$15.50".
Origin, Australia's second largest power retailer, was on the cusp of being sold to British giant BG Group Plc last week for A$13.6 billion.
But oil producer Santos Ltd (ASX:STO) spoiled the transaction, not with a counter-bid but with a landmark deal with Malaysia's Petronas over a planned liquefied natural gas plant in Queensland.
On Wednesday, Origin had agreed to endorse an improved A$15.50 cash per share takeover bid from BG Group and had entered a trading halt to iron out some details.
But by Thursday afternoon the deal was dead, after Santos and Petronas unveiled a A$2.6 billion partnership to build an LNG plant using coal seam gas as feed, setting a new and higher benchmark in the valuation of ...
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- News wire article from: Mondaq Business Briefing Barton, Charmian August 4, 2009 700+ words
...authority. This will apply to environmental authorities granted for GHG storage. The Regulation Of Coal Seam Gas Water The production of coal seam gas (CSG) produces large quantities of waste water, which if not managed appropriately, can cause...
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- Press release article from: PR Newswire May 23, 1995 700+ words
...trustee of Burlington Resources Coal Seam Gas Royalty Trust, today announced...Internal Revenue Code for the coal seam gas produced and sold during the period...profits interests in certain proved coal seam gas properties owned by Meridian Oil...
Source: HighBeam Research, AUSTRALIA'S ORIGIN ALWAYS FOR SALE BUT AT RIGHT PRICE SAYS MD.