M&A

23 November, 2009

UPDATE 1-Berens Energy to explore strategic alternatives

* Says no guarantee on any kind of transaction

* Engages Peter & Co to assist in the process

* Shares up 6 pct

Nov 23 (Reuters) - Berens Energy Ltd (BEN.TO), a Canadian junior oil and gas company, said its board began a process to explore strategic alternatives, but added that it will not disclose the developments until a definitive transaction was approved.

There are no guarantees that the review will result in a transaction or, if undertaken, its terms or timing, the company said in a statement.

The company said it has engaged Peters & Co. Ltd to provide financial advisory and investment banking services.

Shares of the company were up 6 Canadian cents, or about 5 percent, at C$1.39 in early morning trade Monday on the Toronto Stock Exchange. (Reporting by Amit Kumar in Bangalore; Editing by Anil D'Silva) ((amit.kumar.edit@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 4135 5800; Reuters Messaging: amit.kumar.edit@thomsonreuters.com@reuters.net))

Source: http://www.reuters.com