Shell expected to sweeten Arrow bid

By Sean Farrell 546PM GMT nineteen March 2010

Royal Dutch Shell B

Trading in Arrow"s shares was halted by the Australian batch sell to give Arrow time to have an proclamation updating the marketplace on the offer.

If there is no proclamation by 10am on Tuesday, the shares will begin trade again. The calendar gives Shell, the behest partner PetroChina and Arrow the week end to produce out a deal.

Shell might have to lift bid for Arrow Energy Shell in "active" talks with Arrow on suggest BG secures 90pc of Pure Energy Petrofac will good from oil industry investment BG takes infancy carry out of Pure Energy BG Group stairs up bid for Pure Energy

Arrow pronounced on Tuesday that it was still in "active" talks with Shell and the behest partner PetroChina, quashing conjecture that discussions had damaged down.

Shell pronounced yesterday that talks with Arrow continued.

The primary bid for Arrow was for A$4.45 a share in money for each Arrow share and a interest for Arrow shareholders in the general business.

Arrow shares strike a jot down high of A$5.29 on Thursday and analysts pronounced the bidders would need to enlarge the money component of their offer.

Separately, Shell pronounced yesterday that it had done a "significant" oil find in the Gulf of Mexico, adding to finds in the area last year. The find could be the basement for a training hub.

Shell shares sealed down 6 at �19.45.