In a letter to the market, Anzon said the approaches could lead to an offer or proposal being put to its shareholders.

Anzon said it would keep its shareholders updated and added it had appointed RFC Corporate Finance and Deacons as its advisors.

“Although the approaches have been on a confidential basis, AZA is concerned about the loss of confidentiality in relation to such matters and accordingly makes this announcement for the purposes of keeping the market fully informed,” the statement said.

Anzon is the operator and 50% stakeholder of the Basker-Manta-Gummy oil and gas project, in Bass Strait.