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EPSA-4 winner Verenex recommends Chinese takeover bid

Chinese appetite for booking significant reserves has been underlined by the acceptance of Libya-focused Verenex Energy Inc’s board for a C$499m ($387m) takeover bid by China National Petroleum Corporation subsidiary CNPC International (CNPCI). The Toronto Stock Exchange (TSX)-listed firm entered into a definitive agreement with the Chinese suitor on 24 February.

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