8 Sep 2009

L and M Petroleum seeks to buy coal seam gas business

1:45 pm on 8 September 2009

Listed explorer L&M Petroleum says it is in discussions to buy all or part of the privately held company L&M Coal Seam Gas.

The coal seam gas company has a portfolio of projects across the country and is conducting exploration and production testing activities across its permit base.

Due to cross shareholdings between the two companies, a committee including the independent directors of the board has been established to continue acquisition discussions.