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Coal-seam Gas

Shell expects to double spending on acquisitions to $2B

Bloomberg News
March 24, 2010, 12:53PM

Royal Dutch Shell Plc, Europe’s second-largest oil producer, said it expects to double spending on acquisitions to about $2 billion this year.

Shell will dispose of about $1 billion in assets this year, The Hague-based company said in slides prepared for the Howard Weil Energy Conference in New Orleans. The company sees its net capital investment this year at $29 billion.

Shell spent $1 billion on acquisitions last year and is targeting another $1 billion in cost savings this year. It will cut 2,000 more jobs by the end of next year to weather the economic slowdown, which has caused fuel inventories to swell in the U.S. and Europe. 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’s Davies hits target with sweetened Shell bid

REUTERS

Fayen Wong PERTH Mon Mar 22, 2010 9:27am EDT

(Reuters) – When Nicholas Davies joined Brisbane-based Arrow Energy Ltd as chief executive in 2004, he was charged with growing the then junior explorer into one of Australia’s top coal seam gas producers by 2010.

Six years on, Arrow holds the largest coal seam gas acreage in Australia with plans to roll out the world’s first liquefied natural gas (LNG) plant using the unconventional gas resource, drawing energy giants Royal Dutch Shell and PetroChina to launch a friendly takeover offer. read more

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Australia’s Arrow accepts Shell, PetroChina bid

Associated Press, 03.21.10, 08:30 PM EDT

SYDNEY — Arrow Energy Ltd., a major owner of gas assets in Australia, has agreed to a sweetened takeover bid from Royal Dutch Shell and PetroChina Co. worth Australian dollars 3.44 billion ($3.15).

The deal comes as Australia ramps up major natural gas projects in response to booming demand from China and elsewhere as a less polluting fuel than coal to drive power generators. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell, PetroChina Win Arrow With Sweetened $3.2 Billion Offer

March 22 (Bloomberg) -- Royal Dutch Shell Plc and PetroChina Co. agreed to buy Arrow Energy Ltd. after increasing their offer to A$3.5 billion ($3.2 billion), marking China’s entry to Australia’s coal-seam gas industry.

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Takeover Target Arrow Halts Shares

THE WALL STREET JOURNAL

By ROSS KELLY and CYNTHIA KOONS

FRIDAY MARCH 19, 2010, 2:00 A.M. ET

SYDNEY—Arrow Energy Ltd. has yet to strike an agreement with Royal Dutch Shell PLC and PetroChina Co. on a takeover offer, people familiar with the matter said Friday amid mounting speculation of a sweetened offer from the pair.

“There is no agreement at this point,” one person said.

It has been nearly two weeks since Royal Dutch Shell and PetroChina offered 3.3 billion Australian dollars (US$3.0 billion) for Arrow’s Australian operations. The continuation of talks may cool speculation that an Arrow-endorsed deal is imminent. read more

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Arrow close to deal with Shell on higher bid: report

Thu Mar 18, 2010 5:55pm EDT

(Reuters) – Royal Dutch Shell (RDSa.L) and PetroChina (0857.HK) are close to an agreed deal with Australia’s Arrow Energy Ltd (AOE.AX) to lift their A$3.3 billion ($3.05 billion) takeover offer, an Australian newspaper said.

The Australian Financial Review said in an unsourced report on Friday that the companies could announced a deal as soon as Friday, which could be higher than their March 8 offer for A$4.45 in cash per share Arrow share plus a share in a new entity holding its international business. 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 Ireland Corrib Gas Project Startup Delayed To ’12-’13

THE WALL STREET JOURNAL

MARCH 16, 2010 By Lananh Nguyen Of Dow Jones Newswires

LONDON (Dow Jones)–The startup of Royal Dutch Shell PLC’s (RDSB) Corrib gas project off the west coast of Ireland will be delayed to 2012-2013, the company said Tuesday in a strategy update.

The project was originally set to come online between 2010-2011, but has been held up. Shell was asked by Ireland’s planning board in late 2009 to consider an alternative route for a nine-kilometer onshore pipeline to deliver gas from its Corrib fields to a processing terminal in response to local opposition. read more

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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.

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

So far so good as Shell is giving a shaking

Times Online

March 16, 2010

David Wighton: Business Editor’s commentary

He arrived with a bang and within weeks had axed 5,000 jobs. But eight months after taking over the helm at Royal Dutch Shell, is Peter Voser making progress turning around the supertanker? read more

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Arrow May Reject A$3.3 Billion Shell/Petrochina Bid, Review Says

BLOOMBERG.COM

By James Paton

March 15 (Bloomberg) — Arrow Energy Ltd. may reject a A$3.3 billion takeover offer from Royal Dutch Shell Plc and PetroChina Co., the Australian Financial Review reported, without saying where it got the information. The time Arrow has spent evaluating the offer and analysts’ comments that the bid is too low have led to speculation the proposal will be rejected, the newspaper said.

To contact the reporter on this story: James Paton in Sydney at [email protected]

SOURCE ARTICLE read more

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Shell May Raise Arrow Energy Offer, RBS Morgans Says

BusinessWeek Logo

By James Paton

March 12 (Bloomberg) — Royal Dutch Shell Plc and PetroChina Co. may need to increase their offer by as much as 55 Australian cents a share to A$3.7 billion ($3.4 billion) to acquire Arrow Energy Ltd., said an analyst at RBS Morgans.

“Shell and PetroChina may have to sweeten their offer for Arrow to as much as A$5 a share,” Nik Burns, a Melbourne-based analyst, said in a note to investors. While the companies may need to raise the bid to at least A$4.80 a share, the transaction is “more than likely to proceed,” said Burns, who predicted last month that Shell may make an offer for Arrow. read more

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Shell’s Ann Pickard in for Arrow Energy

The Australian

Matt Chambers
Thursday March 11, 2010 12:00AM

ROYAL Dutch Shell will this month fly its new head of Australian production and exploration, Ann Pickard, into the centre of its $3.3 billion joint bid for Arrow Energy.

The appointment of Ms Pickard — head of Shell’s operations in the restive Nigerian delta oilfields and the rest of Africa for the past five years — is seen as a sign of Australia’s growing importance to Shell, which is planning big liquefied natural gas projects on the east and west coasts. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell May Need to Increase Arrow Bid, Bernstein Says

March 9 (Bloomberg) -- Royal Dutch Shell Plc and PetroChina may need to increase their bid for Arrow Energy Ltd. by as much as 18 percent to A$3.9 billion ($3.5 billion) based on similar transactions in Australia, Sanford C. Bernstein & Co. said.

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell’s Arrow Bid May Spur Coal-Bed Gas Takeovers

March 9 (Bloomberg) -- Royal Dutch Shell Plc and PetroChina Co.’s A$3.3 billion ($3 billion) bid for Arrow Energy Ltd. may spur more takeovers of Australian producers of coal-bed gas, a growing source of supply for Asian energy importers.

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
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