BIL Sthn Pet. stake
PA Wellington Brierley Investments advised the Stock Exchange yesterday that it had acquired 8 million contributory shares in Southern Petroleum, Nl, at prices ranging from 36c to 40c a share. The purchases, both on and off-market, represented 5.4 per cent of Southern Petroleum’s
issued capital and took the BIL Group’s total holding to 68.6 per cent, the company said. It had allowed 4 million Southern options it held that required payment of 45c each by September 30 to lapse. Southern Petroleum has a 22.6 per cent stake in the promising Waihapa field in onshore Taranaki.
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Press, 12 October 1988, Page 35
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99BIL Sthn Pet. stake Press, 12 October 1988, Page 35
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