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Shell: No Change To Proposed A$3.44B Offer For Arrow Energy

THE WALL STREET JOURNAL

MAY 4, 2010

SYDNEY (Dow Jones)–Royal Dutch Shell PLC (RDSB.LN) said Wednesday there has been no change to it and PetroChina Corp.’s (PTR) A$3.44 billion takeover offer for Arrow Energy Ltd. (AOE.AU).

“There’s been no change to the proposed offer following FIRB (Foreign Investment Review Board) approval,” a Shell spokesman said.

“Shell continues to look at the impact of the government proposal across all of our Australian investments,” the spokesman said, referring to the resource super profits tax announced this week by the Australian government.

The spokesman declined to comment on whether there might ever be a change to the terms of the deal.

-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692; [email protected].com

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