Canadian tie-up to speed up NT oil exploration

PETROFRONTIER'S $C63.7 million ($A64.6 million) takeover offer for fellow Canadian Texalta Petroleum will consolidate the ownership and accelerate exploration in two Georgina Basin permits.

Canadian tie-up to speed up NT oil exploration Canadian tie-up to speed up NT oil exploration Canadian tie-up to speed up NT oil exploration Canadian tie-up to speed up NT oil exploration Canadian tie-up to speed up NT oil exploration

Under an arrangement agreement, PetroFrontier will acquire all the outstanding shares in Texalta for $C1.58 in cash or a combination of cash and shares.

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