ENERGY
Bow and Arrow
Arrow Energy, owned by Shell and PetroChina, has made a $520.5 million takeover bid for Bow Energy, offering $1.48 cash a share. Arrow is developing a LNG project at Gladstone, and Bow would bring with it significant potential gas reserves. Bow shares jumped 53.5? to close at $1.41.5.
TRANSPORT
Hong Kong direct
Cathay Pacific will offer three direct flights a week from Adelaide to Hong Kong from November. Previously, all of the airline's flights from the South Australian capital to Hong Kong stopped via Melbourne.
RESOURCES
Western profit leap
Western Areas has booked a leap in full year net profit after beating nickel production targets at two of its mines in Western Australia. Net profit for the 12 months to June 30 was $135 million, up from $14.2 million for the previous year.
FUEL
Santos blast fine
Oil and gas giant Santos has been fined $84,000 over a 2004 explosion at its Moomba gas processing facility that put South Australia and NSW on gas rations. The blast on New Year's Day was not fatal, but 13 employees were put at risk due to critical safety shortcomings.
TRANSPORT
Toll road top-up
Brisbane toll road operator Brisconnections has posted an annual net profit of $27 million, compared with $17 million a year earlier. The latest result includes a tax benefit of almost $30 million.
GOLD
Merger deal sealed
Gold producer Adamus Resources has agreed to merge with the Toronto Stock Exchange-listed Endeavour Mining Corporation to create a larger, acquisition-focused West Africa-based miner. Adamus shareholders will receive 0.285 of an Endeavour share for each share they own.
TELCOS
NZ cable pact
Vodafone New Zealand has signed a 10-year agreement with Pacific Fibre, the company that wants to build an undersea cable between Australia, New Zealand and the United States to rival the Southern Cross cable network. Pacific Fibre did not put a value on the contract, only saying that it was a multi-million dollar figure.
Frequently Asked Questions about this Article…
What is Arrow Energy’s takeover bid for Bow Energy and how much is it worth?
Arrow Energy, which is owned by Shell and PetroChina, has made a takeover bid for Bow Energy valued at about $520.5 million, offering $1.48 cash per Bow share.
How did Bow Energy’s share price react to the Arrow takeover offer?
Bow Energy shares jumped sharply—about 53.5%—after the Arrow bid and closed at roughly $1.41, reflecting investor interest in the cash offer.
Why is Arrow Energy interested in acquiring Bow Energy for its Gladstone LNG project?
Arrow is developing an LNG project at Gladstone and Bow Energy would bring significant potential gas reserves, which could support Arrow’s LNG development plans.
Which airline will start direct flights from Adelaide to Hong Kong and when will they begin?
Cathay Pacific will offer three direct flights a week from Adelaide to Hong Kong starting in November; previously those services routed via Melbourne.
What caused Western Areas’ profit leap and what were the reported results?
Western Areas beat nickel production targets at two of its Western Australian mines, driving a big rise in full-year net profit to $135 million for the 12 months to June 30, up from $14.2 million the year before.
Why was Santos fined over the Moomba explosion and what impact did the incident have?
Santos was fined $84,000 over a 2004 explosion at its Moomba gas processing facility. The blast led to gas rationing in South Australia and New South Wales; it was not fatal but 13 employees were put at risk due to critical safety shortcomings.
What are the key details of the Adamus Resources and Endeavour Mining merger that investors should know?
Adamus Resources agreed to merge with Toronto-listed Endeavour Mining Corporation to create a larger, acquisition-focused miner based in West Africa. Under the deal, Adamus shareholders will receive 0.285 of an Endeavour share for each Adamus share they own.
What is the Vodafone New Zealand and Pacific Fibre agreement and why does it matter for connectivity?
Vodafone New Zealand signed a 10-year agreement with Pacific Fibre, the company planning an undersea cable linking Australia, New Zealand and the United States to rival the Southern Cross network. Pacific Fibre described the contract as a multi‑million dollar deal but did not disclose a specific value.
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