Approach by Corvus

Lodore Resources Inc which was formed as an investment company whose primary objective was to build a group specialising in the oil and gas sector and was listed on AIM in 2004 at a market capitalisation of £6.4 million.

The company had a highly experienced management team in building oil and gas assets and over the next year set about building a group with its assets principally in the United States and in 2005 the company was acquired for a total consideration of £115.0 million.