*** Buy Out ***5 Nov 2014 20:37
Found this posted on aim soiree (will try and investigate further --------- Spanish oil giant Repsol are considering a buyout of london listed Canadian oil producer Edge Resources Inc (LON:EDG) .It is thought that Repsol executives view Edge as a great value enhancing aquisition and offers a great alternative to its much publicised attempt to purhase fellow Canadian producer Talisman Energy.Recent progress made by Edge at its Eye Hill East assets have caught the attention of a number of bigger industry players that are looking for undervalued assets in safe jurisdictions.Repsol recently stated they have a potential $10 billion available for new aquisitions,and Edge Resources are thought to be just one of many potential new purchases being considered.Repsol SA (MCE:REP) focus on new aquisitions is due largely to help fill a gap left by the 2012 seizure of its Argentine business,and this situation has led the company to view the USA and Canada as safe havens in which to operate.The company have recently been encouraged by a new oil discovery off the Gulf of Mexico.