DNO has threatened to withdraw its bid to acquire Aberdeen-based Faroe Petroleum if a decision is not made by January 2.
The Oslo-listed firm has made an offer of £1.52 per share, which Faroe has described as “opportunistic” and “severely undervaluing” the company.
In a statement, DNO said shareholders are “encouraged to accept the offer” by 1pm on January 2, otherwise it may choose to lapse it.