July 21 (Reuters) - Oil Search Ltd (OSH) :
- Oil Search not to submit revised offer for Interoil (OSH)
- It does not intend to submit a revised offer for Interoil under the arrangement agreement between Oil Search and Interoil dated 20 may 2016
- Bid by ExxonMobil clearly underscores the merits of our offer for Interoil
- Says do not believe it is in the best interests of our shareholders for Oil Search to submit a revised offer to acquire Interoil.
- Total SA and Oil Search have already signalled their desire to cooperate with the png lng project
- Successful takeover of Interoil by ExxonMobil will deliver a major part of our original objectives in the acquisition of Interoil"
- Oil Search and Total agreed that they will terminate their mou if Interoil terminates the arrangement agreement with Oil Search
