Korea National Oil Corporation confirmed preliminary discussions regarding a possible cash offer for the entire issued and to-be-issued share capital of Dana Petroleum.[6] On 20 August 2010, KNOC went hostile in their bid for Dana Petroleum, the first time an Asian state owned company had made a direct bid for a UK company.[7] By 24 September 2010, KNOC had received 64.26% acceptance of the share offer from shareholders resulting in the Dana Petroleum Board advising shareholders to accept the offer as the board intended to do with regard to their own beneficial holding.[8]