Capricorn Energy among suitors in takeover talks with Deltic Energy

(Sharecast News) - Deltic Energy confirmed on Wednesday that it is in potential takeover talks with three parties: Capricorn Energy, Petrogas International E&P - a subsidiary of Mohammed Al Barwani - and private Norwegian company Blue Concept.

The AIM-listed North Sea operator said there can be no certainty that any of the discussions will result in an offer being made, nor as to the terms on which any such offer may be made.

Under UK takeover rules, each of the three potential offerors has until 1700 BST on 20 May to either announce a firm intention to make an offer or walk away.

"The Deltic directors will carefully consider proposals from the potential offerors in conjunction with the company's advisers," it said.

The shares closed up 153% at 7.60p.

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Deltic Energy