Oil and gas producer TAG Oil Ltd (TSE:TAO) issued a response to what it called market rumours.
The company has stated that it regularly evaluates potential strategic opportunities to create value for its shareholders, it said in a statement Thursday,
"From time to time, this process leads to discussions with potential counterparties. There can be no assurance that any such discussions will ultimately lead to a transaction. As a general policy, TAG does not publicly comment on potential transactions unless and until a binding legal agreement has been signed," it said.
"TAG does not anticipate issuing any further public statement regarding any rumours or speculation in the marketplace unless required by applicable laws."