Chairman Charles Jamieson and Sona Petroleum

Sona Petroleum: Shareholders were optimistic about the prospects of a deal, speculating that bids could be as high as 200p a share. But whatever offers were made clearly didnt satisfy the board, which yesterday opted instead to sell a 40 per cent stake in its Greater Bualuang field in the Gulf of Thailand to Sona Petroleum for $280m, according to The Independent. The blue-chip index was quiet, with traders reluctant to take any big positions while geopolitical uncertainties rumble on and The Asian-focused oil and gas explorer fell to the bottom of the small-cap index, down 8p to 119.5p, after admitting it had called time on efforts to sell itself. Salamander put out the For Sale sign in May, after its touting of individual assets attracted punters interest in the whole operation. Chairman Charles Jamieson said the deal, which will see $50m returned to investors, represents the best outcome for shareholders and the wider group. (news.financializer.com). As reported in the news.