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Senterra looks outside oil and gas sector for acquisitions

Senterra Energy said it is making progress on identifying and reviewing acquisition targets in the oil and gas sector and beyond.

Senterra Energy said it is making progress on identifying and reviewing acquisition targets in the oil and gas sector and beyond.

“Investors should also be aware that due to its status as an acquisition vehicle that the company has been approached by a number of parties with opportunities outside that of the energy sector and that these parties have expressed interest in working with Senterra to facilitate a public listing,” the company said in a market statement.

“The board believes that there are some potentially attractive businesses and technologies amongst these proposals and it will seek to apply similar principles and disciplines of corporate governance to the assessment of these opportunities as it is doing so for its discussions for any potential acquisitions in the energy sector,” the company added.

Senterra said there are some potentially attractive businesses and technologies amongst these proposals and it will seek to apply similar principles and disciplines of corporate governance to the assessment of these opportunities as it is doing so for its discussions for any potential acquisitions in the energy sector.

 

Whilst Senterra is seeking to secure an acquisition, the board said it was also focused on taking a prudent approach to its cash position.

The company was formed last November to focus on making acquisitions. It said it expects to target an acquisition in the range of £1 million to £5 million this year.