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Medco raises Ophir offer after Coro bid

Indonesia’s Medco Energi has increased its offer for Ophir Energy to 57.5p/share from 55p after Coro Energy approached Ophir to discuss a possible cash and shares offer. Ophir announced in January that the board was recommending Medco’s earlier offer, which would add Ophir’s 25,000 boe/d production in south-east Asia to Medco’s existing portfolio.

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