BUZZ-Salamander Energy: Down on uncertainty around takeover bid

** Salamander Energy (Other OTC: SALDF - news) down as much as 6.4 pct to 109.5 pence after Spain's Compania Espanola de Petroleos (CEPSA) said it was still considering its options and may decide not proceed with its bid for Salamander.

** Salamander said on Friday that it had received a takeover proposal from a consortium led by CEPSA for 121 pence per share in cash and one contingent value right of up 24 pence per share.

** A trader said the likelihood that Ophir Energy Plc (Other OTC: OPGYF - news) may drop its pursuit of Salamander were also hurting Salamander's shares.

** Salamander had said in October that it had also received a conditional offer from Ophir Energy.

** Canaccord Genuity (Other OTC: CCORF - news) analysts said they did not expect Ophir to make "a compelling alternative offer," while analysts for Oriel Securities said CEPSA's potential offer was high enough to dissuade Ophir.

** Canaccord cut its rating on Salamander shares to Hold from Buy, and its price target to 121 pence from 140 pence per share, on Monday in line with CEPSA's proposed offer.