CNOOC better move on TMY. It appears OIL AND NATURAL GAS CORP (ongc.ns) may have an interest in TMY.
How about a bidding war?
ONGC Videsh Eyes Transmeridian 07/24/2007 BusinessWeek It was reported that Oil and Natural Gas Corporation (ONGC) is eyeing a takeover of Transmeridian. ONGC Videsh Ltd has been eyeing Transmeridian for sometime now. Industry sources said that the company has done preliminary due diligence and it is expected to take a decision anytime now. The sources said as per the US law OVL had two options to takeover Transmeridian � make offer directly to company shareholders for purchase of shares or make a merger proposal under which 100% of the company is acquired with board and shareholder approving the OVL�s offer.
Friday August 31, 04:50 PM ONGC in pact with BP for joint asset bids
MUMBAI (Reuters) - State-run explorer Oil and Natural Gas Corp (ONGC) and oil major BP Plc on Friday signed an initial agreement to jointly bid for energy assets abroad and in India, ONGC said in a statement.
The memorandum of understanding would also enable the possible participation of ONGC and BP in each other's overseas and local assets, including coal bed methane blocks in India, the statement said.
The agreement is valid for 18 months from now, ONGC said, adding it could be extended further.