Royal Dutch Shell PLC (RDSB.LN) said Monday its Arrow Energy joint venture with PetroChina Co. (PTR) has made a preliminary, non-binding offer for Australian coal seam producer Bow Energy Ltd. (BOWFY).

"The discussions are exploring a range of opportunities and there is no certainty of any material developments resulting from the discussions," said Shell. It didn't detail what price per share it was willing to offer Bow's shareholders, but Bow said Shell had offered US$540 million to acquire the company.

Brisbane-based Bow said earlier Monday it received a A$1.48-a-share initial cash offer from Arrow Energy, which Shell and PetroChina jointly acquired for A$3.4 billion a year ago. In a statement, Bow recommended shareholders take no action.

-By Alexis Flynn, Dow Jones Newswires, +44 207 842 9471, alexis.flynn@dowjones.com

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