Never heard of this.....anybody any news as to what deo do ?.

StockMarketWire.com
Parkmead has agreed a £12.7m takeover deal for DEO Petroleum.

Under the terms of the acquisition, shareholders will receive two Parkmead consideration shares for each DEO share held.

Based on the price of a Parkmead share of 14.75 pence, the acquisition values the entire issued and to be issued share capital of DEO at approximately £12.7m , and each DEO Share at 29.5 pence.

The consideration of 29.50 pence for each DEO share represents a premium of approximately 40.5% over the closing price of 21.00 pence per DEO Share on 25 May.