Unsolicited Proposal received by BVI-registered Company Equator Exploration Ltd.
On November 15, 2006, a BVI-registered company Equator Exploration Limited announced having received an unsolicited proposal concerning a possible offer for the company.
Since Equator’s announcement, it has held preliminary talks with the party that made the proposal. However, now the discussions have terminated.
Also, Equator Exploration Limited has received preliminary expressions of interest from a number of other parties. The interest was related to strategic transactions involving Equator. The above-mentioned expressions of interest and the strategic options available to the company are considered by the Board. However, it is not clear yet whether this process is about to result in a transaction or proposal being made or implemented.
Equator Exploration Limited registered in the British Virgin Islands and subjected to the law of the British Virgin Islands deals with the exploration and development of oil and gas projects in West Africa.