InterOil Corp. has announced that the majority of shareholders have approved the acquisition of the company by Exxon Mobil Corp.
The company claims that over 91% of the votes were cast in favour of the proposed transaction. On 21 September 2016, just 80% voted to approve the original transaction.
In the statement, InterOil claims that the court hearing in which InterOil is seeking a final order with respect to the Amended and Restated Plan of Arrangement is currently scheduled for 20 February 2017.
InterOil is an independent oil and gas business, which has a sole focus on Papua New Guinea. The company’s assets include Elk-Antelope – one of Asia’s largest and undeveloped gas fields – in the Gulf Province, as well as exploration licenses covering approximately 16 000 km2.