BAHRAIN

Intoil Purchases Stake in American Oil Firm 

Intoil, a newly established private Arab oil company, has purchased a stake in Arapaho Petroleum Incorporated of Colorado for a total price of $6.4mn. Under the terms of the deal, Intoil will pay a cash price of $3.725mn for 4mn newly issued common shares with warrants attached. Over the next three years the warrants entitle Intoil to purchase a further 3mn for a minimum price of $2.75mn (if exercised immediately) and a maximum...