March 11, 2009 / 12:42 PM / in 9 years

UPDATE 1-Verenex Q4 profit rises; seeks consent for CNPC deal

* Q4 shr C$0.04

* Revenue falls 68 pct

* Says will seek NOC consent to be acquired by CNPC

March 11 (Reuters) - Verenex Energy Inc VNX.TO reported a higher quarterly profit and said it will continue to seek consent from the Libyan National Oil Corp (NOC) in order to be acquired by China National Petroleum Corp.

The deal, which was announced last month, is contingent on consent from the NOC, with which Verenex has an exploration and production-sharing agreement. [nBNG440478]

Verenex posted fourth-quarter net income of C$2.0 million, or 4 cents a share, compared with C$1.8 million, or 4 cents a share, a year ago.

Revenue fell to C$443,000.

Shares of the Calgary, Alberta-based company closed at C$9.62 Tuesday on the Toronto Stock Exchange.

$1=1.283 Canadian Dollar Reporting by Isheeta Sanghi in Bangalore; Editing by Anne Pallivathuckal

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