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APIC Petroleum Turns Its Back from Albpetrol Acquisition

APIC Petroleum Corporation (API.V) said today that it has now completed its evaluation pertaining to the acquisition of Albanian state oil company Albpetrol.

The company said that it is not in the interest of APIC shareholders to participate further in the bidding process and accordingly will not be submitting a bid.

During the past several months, the company has been simultaneously evaluating several other international and Canadian opportunities to acquire oil and gas properties.

API was last trading at 13 cents.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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