The two companies agreed earlier this month to work towards a merger by way of an exchange of shares that will result in Peak being merged into Octanex.
Octanex has a market capitalisation of about A$47 million while Peak (recently known as Raisama) is a A$4 million company.
Octanex chairman Geoff Albers said today the main rationale "for our support of Peak is our interest in the two projects which they hold; a brownfields oil development in the Philippines (Cadlao) and a well-situated onshore exploration block in North Sumatra (South Block A)".
Peak
