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How many shares on issue?


QUEENSLAND coal seam gas company Arrow Energy is understood to have agreed to buy Pure Energy in a deal worth more than $300 million.

It is expected the deal will be announced to the market later today.

Both companies went into a trading halt this morning, with Pure saying discussions with Arrow could result in a recommended takeover bid being made for the company.

Arrow did not mention Pure but requested a trading halt pending an announcement of a material acquisition.

Arrow is cashed up after bringing Shell in as a stakeholder in its CSG ground and is looking to expand its reserves as it studies building a CSG-to-liquefied natural gas export plant at Gladstone.