This has reference to the news article “Open Offer by BEIL to shareholders of HOEC” appearing in The Financial Express dated February 15, 2005.
With respect to the same, we hereby confirm about the agreement between Burren Energy India Ltd., and Unocal International Corporation (100% subsidiary of Unocal Inc.) relating to an overseas transaction between the said companies to acquire the entire equity share capital of Unocal Bharat Limited which in turn presently holds 26.01% equity shares in the Company (HOEC).
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