Mineral Resources announced off-market takeover bid for Norwest Energy

Mineral Resources Limited (ASX: MIN) announced an off-market takeover bid to buy all issued fully paid ordinary shares in Norwest Energy NL, that it doesn’t retain. Norwest is Mineral Resources' minority joint venture partner in the Lockyer Deep gas project in the Perth Basin. The company plans to offer one fully paid ordinary share of Mineral Resources for every 1,367 Norwest Shares held on the registration date. The offer implied an offer price of AU$0.06 per Norwest Share.

Norwest Energy’s main asset is a non-operating stake in onshore Perth Basin exploration permits EP 368 (20%) and EP 426 (22.22%). MinRes and its affiliates are the licence operators and owners of the remaining stake in EP 368 and EP 426.

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