History
The company was formed in 1994 to exploit North Sea oil opportunities. In 2007 the company acquired Ener Petroleum for £24 million as well as Devon Energy Corporation's oil and gas operations in Egypt for US$375 million. In June 2010, Dana Petroleum agreed to acquire Petro Canada Netherlands from Suncor Energy for around $393 million, then later in September 2010 the company announced a further $372 million acquisition of certain Petro Canada UK assets.
On 2 July 2010 Dana Petroleum confirmed it had received a £1.5 billion takeover bid. Korea National Oil Corporation confirmed preliminary discussions regarding a possible cash offer for the entire issued and to-be-issued share capital of Dana Petroleum. On August 20th 2010, KNOC went hostile in their bid for Dana Petroleum, the first time an Asian state owned company had made a direct bid for a UK company. By 24 September 2010, KNOC had received 64.26% acceptance of the share offer from shareholders resulting in the Dana Petroleum Board advising shareholders to accept the offer as the board intended to do with regard to their own beneficial holding.
Read more about this topic: Dana Petroleum
Famous quotes containing the word history:
“The greatest honor history can bestow is that of peacemaker.”
—Richard M. Nixon (1913–1995)
“What has history to do with me? Mine is the first and only world! I want to report how I find the world. What others have told me about the world is a very small and incidental part of my experience. I have to judge the world, to measure things.”
—Ludwig Wittgenstein (1889–1951)
“Spain is an overflow of sombreness ... a strong and threatening tide of history meets you at the frontier.”
—Wyndham Lewis (1882–1957)