Canacol Takes Over Peer

Canacol Takes Over Peer

Colombia M&A Canada

Canacol Energy, a Canadian oil company operating in Colombia, Brazil and Guyana, has agreed to take over Shona Energy, it says, in a deal worth $148m. The deal gives Canacol five exploration blocks representing 15.8m barrel of oil equivalent (boe) reserves belonging to Shona, a US oil and gas company operating in Colombia and Peru. In the deal, each Shona common share will be exchanged for CAD0.09 ($0.09) and 1.06 Canacol shares, and each Shona preferred share exchanged for $100 cash. The total

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