Global Capital Markets

The China National Offshore Corporation is reportedly mulling a takeover approach for AIM-listed Canadian gas-and-oil group First Calgary Petroleum, the Daily Mail reported. Citing market speculation, the report said that First Calgary’s gas assets in Algeria are thought to be most attractive to CNOOC. First Calgary was put on the market last year but failed to attract a purchaser; its value subsequently dropped from GBP 10 per share, around GBP 1.9bn (EUR 2.7bn), to GBP 3 per share, the report noted. It added that the company’s share price currently stands at 520p.
Source
Daily Mail
Value
GBP 1,900m (First Calary market cap at last year's height)