Obsidian Energy: Rises on acquisition offer for Bonterra Energy

Bonterra Energy

31/08/2020 16:48

** Canadian energy co's shares  OBE.TO  up 15.1% at C$0.61
    ** Obsidian Energy Ltd  OBE.TO  offers two shares for every
share of Bonterra Energy Corp  BNE.TO   urn:newsml:reuters.com:*:nL4N2FX3GA
    ** The offer values Bonterra at ~C$35 mln ($26.81 mln), or
C$1.06 per share, a 29.3% discount to stock's Friday closing
    ** OBE to consider an increased exchange ratio in the event
Bonterra is able to demonstrate additional value
    ** Obsidian Energy is prepared to pursue all options to
consummate this transaction - OBE  urn:newsml:reuters.com:*:nCNWVP7lla
    ** YTD, OBE down 30.1% and BNE down ~62%

($1 = 1.3054 Canadian dollars)

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com))