"Pinsent Masons is advising the Prax Group, a British multinational independent refining, storage, distribution and sales conglomerate dealing in crude oil, petroleum products and bio-fuels (“Prax”), in respect of the offer by Prax Exploration & Production plc to acquire the entire issued and to be issued share capital of AIM listed exploration and production company, Hurricane Energy plc (“Hurricane”). The acquisition, which is governed by the UK Takeover Code, is intended to be implemented by way of scheme of arrangement (""the Scheme""), for a total potential consideration of £249 million. Prax’s intention to make a firm offer for Hurricane was made pursuant to an announcement in accordance with Rule 2.7 of the UK Takeover Code at 7.30am on 16 March.

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