Tag Oil approaches Greymouth Petroleum

Wed, 31 Oct 2012

Nov. 1 (BusinessDesk) - Toronto Stock Exchange-listed Tag Oil has submitted a non-binding expression of interest to New Zealand-owned Greymouth Petroleum. There has been no formal due diligence and no definitive agreement had been struck, Tag said in a statement. It disclosed the move after a report in the Wall Street Journal said it had bid $650 million for all of Greymouth. Tag Oil chief executive Garth Johnson said the non-binding expression of interest was not an offer and it was subject to strict confidentiality "that appears to have b...

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