Dart Energy Limited (ASX:DTE) Completes Acquisition of Apollo Gas Limited (ASX:AZO)

Global coal seam gas company Dart Energy Limited (ASX:DTE) (PINK:DEGEF) is pleased to announce that all formalities related to the compulsory acquisition process for Apollo Gas Limited (Apollo) have now been completed, such that Apollo is now a 100% owned subsidiary of Dart.

Dart CEO and Managing Director, Simon Potter said: "We are pleased to have now fully completed the Apollo takeover, and are already well advanced in terms of initiating work on the Apollo assets, and fully integrating Apollo in to the broader Dart business and team. Our 2011 drilling campaign in Australia will see work across the Apollo portfolio, and the first well has already been spudded on PEL 459".

To the extent not already done, Dart shares will be issued to Apollo security-holders subject to compulsory acquisition upon those Apollo security-holders returning the claim forms previously despatched.

About Dart Energy Limited

Dart Energy Limited (ASX:DTE) is a publicly listed Australian company focused on the development of coal bed methane in eastern Australia and Asia. The company has established offices in Singapore, Australia, China, India, Indonesia and Vietnam servicing a diverse portfolio of quality projects, assets and opportunities. Our projects are predominantly located in energy constrained markets with large populations and high forecast demand growth resulting in high values for gas.

 

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