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Arrow Energy

Shell says Arrow Gladstone LNG plant still on

Reuters

10:02 p.m. CDT, May 13, 2012

ADELAIDE (Reuters) – Royal Dutch Shell still plans to build a liquefied natural gas (LNG) plant at the Australian port of Gladstone as part of its Arrow LNG development despite reports of rising costs, Shell Australia chairwoman Ann Pickard said on Monday.

Earlier this month, a source close to Arrow LNG, a joint venture between Shell and PetroChina , said costs may rise as much as 50 percent from initial estimates, which could force the companies to delay development.

“Obviously Shell has its own numbers, Arrow has its numbers, and PetroChina, our 50 percent partner, have their own numbers. From a Shell perspective, the project looks fine to me, but we are pretty conservative on our numbers. I don’t see any blowout or increases,” Pickard told reporters on the sidelines of an oil and gas industry conference in Adelaide. read more

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Shell’s Arrow Energy Cleared by Australia, China to Purchase Bow

December 16, 2011, 2:21 AM EST

By James Paton

Dec. 16 (Bloomberg) — Arrow Energy Ltd., the natural gas producer owned by Royal Dutch Shell Plc and PetroChina Co., won approval from Australia’s Foreign Investment Review Board to buy Bow Energy Ltd. for A$535 million ($534 million).

The transaction was also cleared by Chinese authorities, Brisbane-based Bow said today in a statement. The decisions follow approval earlier this month by the Australian Competition & Consumer Commission. read more

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Arrow Wins Bow Energy After Boosting Offer to A$535 Million

By James Paton

Sept. 26 (Bloomberg) — Arrow Energy Ltd., owned by Royal Dutch Shell Plc and PetroChina Co., agreed to buy Bow Energy Ltd. after sweetening its offer to A$535 million ($516 million), gaining resources for a natural gas project in Australia.

The coal-seam gas explorer and producer in Queensland state increased its cash offer to A$1.52 a share from A$1.48, Brisbane-based Bow said in a statement today. That’s 72 percent more than the stock’s price of 88.5 cents in Sydney trading before Arrow made its initial offer on Aug. 22. read more

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Shell, PetroChina Unit Arrow Bids $540 Million for Australia’s Bow Energy

By James Paton – Aug 22, 2011 8:09 AM GMT+0100

Arrow Energy Ltd., owned by Royal Dutch Shell Plc (RDSA) and PetroChina Co., offered about A$520 million ($540 million) for Bow Energy Ltd. (BOW), seeking more resources to underpin a proposed liquefied natural gas project in Australia.

Arrow, a coal-seam gas explorer and producer in Queensland state, offered A$1.48 a share in cash, Brisbane-based Bow said today in a statement. That’s 67 percent more than Bow’s price of 88.5 cents in Sydney trading on Aug. 19. The shares surged 60 percent today to A$1.415 at the 4:10 p.m. close. read more

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Toxins confirmed in Australia coal-seam gas wells

Reuters Africa

Wed Nov 17, 2010 9:59pm GMT

SYDNEY Nov 18 (Reuters) – An Australian coal-seam gas company owned by Royal Dutch Shell and PetroChina Co Ltd has confirmed the presence of toxins in three wells in an Australian project.

Arrow Energy said in a statement released to the Australian stock exchange on Thursday that trace amounts of so-called BTEX group chemicals, which include benzene, had been found in the wells in Bowen Basin coal fields of northern Queensland state.

Arrow Energy is leading the development of a project that aims to turn coal-seam gas into liquefied natural gas for export, at an estimated cost of $10 billion for the first phase. read more

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Shell-PetroChina Takeover of Arrow Means $308 Million Profit for New Hope

The takeover of gas producer Arrow Energy Ltd. by Royal Dutch Shell Plc and PetroChina Co. will generate a A$326 million ($308 million) profit for shareholder New Hope Corp., giving the coal miner more cash for acquisitions.

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Shell Moves Sakhalin LNG Manager to Australia to Lead $20 Billion Project

Bloomberg

By James Paton – Aug 26, 2010 4:48 AM GMT+0100

Royal Dutch Shell Plc has brought the former manager of Sakhalin-2, Russia’s first liquefied natural gas project, to Australia to oversee development of a proposed venture that may cost more than $20 billion.

Shell, OAO Gazprom’s partner in the $22 billion Russian project, assigned Hilary Mercer to the Queensland venture, Ann Pickard, chairman of the company’s Australian unit, said in an interview. Shell and PetroChina Co. this week completed the purchase of Arrow Energy Ltd., gaining gas for an LNG venture that may produce 16 million metric tons of fuel a year. read more

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‘The Well From Hell’

THE NEW YORK TIMES

Published: July 24, 2010

Derick E. Hingle/Bloomberg News

LOCKED DOWN TIGHT

The News BP and the government decided to leave the cap closed on the company’s stricken oil well on the Gulf of Mexico’s floor, preventing any oil or gas from escaping the well.

Behind the News Initially, the cap’s valves were closed as a test to see if the well was intact below the sea floor, and the plan was to reopen them afterward to relieve the pressure, with escaping oil collected at the surface. Methane gas was found seeping up two miles away, but scientists concluded it was a natural occurrence. With the well apparently holding tight under the pressure, Thad W. Allen, the retired Coast Guard admiral in charge of the federal response, approved keeping the cap closed. read more

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Arrow approves takeover by Shell-PetroChina

REUTERS

SYDNEY | Wed Jul 14, 2010 5:59am BST

SYDNEY (Reuters) – Arrow Energy (AOE.AX) shareholders approved a $3.05 billion takeover by Royal Dutch Shell (RDSa.L) and PetroChina’s (0857.HK) on Wednesday, clearing the way for a final legal go-ahead due later this week.

Shareholders voted to demerge Arrow’s international assets into Dart Energy, a newly listed entity, and to sell the bulk of the company, including the coveted coal-seam gas assets to a consortium of Shell and PetroChina in an agreed deal. read more

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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. read more

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Shell, PetroChina Bid for Arrow Energy Wins Approval

April 30 (Bloomberg) -- Royal Dutch Shell Plc and PetroChina Co. received approval from Australia’s Foreign Investment Review Board to acquire gas producer Arrow Energy Ltd. in a A$3.5 billion ($3.3 billion) transaction.

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ACCC Clears Shell, PetroChina Offer for Arrow Energy

BusinessWeek Logo

By James Paton

April 14 (Bloomberg) — The Australian Competition and Consumer Commission cleared Royal Dutch Shell Plc and PetroChina Co.’s A$3.5 billion ($3.3 billion) bid to acquire Arrow Energy Ltd. after a monthlong review of the proposed transaction.

“Taking into account the significant competing gas suppliers and abundant gas reserves that would remain post- acquisition, the ACCC considered that the proposed acquisition was unlikely to substantially lessen competition in any relevant market,” the Australian regulator said on its Web site. read more

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Shell, PetroChina Still Await Approval for Arrow Deal

BusinessWeek Logo

By Ben Sharples

April 6 (Bloomberg) — Royal Dutch Shell Plc said the company’s joint A$3.5 billion ($3.2 billion) bid with PetroChina Co. to acquire Arrow Energy Ltd. is yet to be approved by the Australian government, denying a press report.

“We continue to work through the government approval process,” Phil Connole, Melbourne-based spokesman for Shell, said by telephone today. The Australian Financial Review reported earlier that backing from the nation’s Foreign Investment Review Board for the transaction had been secured. read more

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Shell and China’s CNPC sign 30-year gas discovery deal

BBC NEWS

Royal Dutch Shell has strengthened its ties in China with a 30-year deal to explore for natural gas in the country.

The Anglo-Dutch energy giant will partner China National Petroleum Corporation (CNPC) in the project.

The deal follow’s this week’s joint bid with PetroChina, owned by CNPC, for Australia’s Arrow Energy gas company.

Shell has been expanding its search for gas assets rapidly, and the deal secures the company a strong presence in resource-hungry China.

Under the agreement, which still needs clearance from the Beijing government, Shell and CNPC will initially search for gas in a 4,000 sq km area in the Sichuan province. read more

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Arrow to soon respond on Shell, PetroChina offer: source

REUTERS

(Reuters) – Australia Arrow Energy Ltd (AOE.AX) has opened its books to Royal Dutch Shell (RDSa.L) and PetroChina (0857.HK) for them to conduct due diligence for their joint takeover offer worth at least A$3.3 billion ($3.03 billion) sources said on Wednesday.

One of the sources said Arrow is expected to make a response on the offer within days. ($1=1.088 Australian Dollar)

(Reporting by Fayen Wong; Editing by Michael Perry)

REUTERS SOURCE ARTICLE

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Shell may have to raise bid for Arrow Energy

A stream of analyst comments and silence on the offer from the Australian coal-seam gas group has fuelled expectations that Arrow will reject the bid and the two parties will have to come in with a higher – and hostile – offer. Last week, Shell and PetroChina offered A$4.45 in cash for each Arrow share, plus a share in a new, international Arrow entity.

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