Tullow acquisition of Australian oil company approved

Australian oil and gas exploration and production company Hardman Resources Limited has announced that the Federal Court of Australia today issued orders approving the scheme of arrangement relating to the proposed acquisition of Hardman by Tullow Oil.

The acquisition had been approved by Hardman shareholders at a general meeting on yesterday and it is now expected that the scheme will become effective once a copy of the court orders are lodged by Hardman with the Australian Securities and Investments Commission tomorrow.