Novus Petroleum Limited – Panel Publishes Reasons [02/03/2004] The Takeovers Panel

Tuesday, 02 March 2004

NOVUS PETROLEUM LIMITED: PANEL PUBLISHES REASONS

The Takeovers Panel has today published the reasons for the decision of the Panel in the proceedings (Proceedings) relating to Novus Petroleum Limited (NVS).

The Proceedings arose from an application made on 6 January2004 by NVS in relation to the off-market cash takeover bid by Medco Energi (Australia) Pty Ltd (Medco) for all of the issued ordinary shares in NVS.

The Proceedings concluded following acceptance by the Panel of undertakings provided by Medco. The conclusion of the Proceedings was announced on 20 January 2004 in Panel media release TP 04/05.

The Panel was Nerolie Withnall (sitting President), Scott Reid and Carol Buys.

The reasons of the Panel in the Proceedings are available on the Panel’s website at: Decisions

The earlier Panel media releases mentioned in this media release are available on the Panel’s website at: Media Releases

George Durbridge
Director, Takeovers Panel
Level 47, Nauru House
80 Collins Street, Melbourne VIC 3000
Ph: +61 3 9655 3553
George.durbridge@takeovers.gov.au