Information  X 
Enter a valid email address

Premier Oil PLC (PMO)

  Print          Annual reports

Monday 20 November, 2017

Premier Oil PLC

Update on the Sale of Wytch Farm

RNS Number : 9940W
Premier Oil PLC
20 November 2017
 

PREMIER OIL PLC 

("Premier")

Update on the Sale of Wytch Farm

  20 November 2017

 

Premier is pleased to announce that it has today entered into a sale and purchase agreement to sell its interests in Licences PL089 and P534, containing the Wytch Farm field, to Perenco UK Limited on materially the same terms as have been previously disclosed in an announcement released on 12 September 2017 and in a trading update released on 16 November 2017. These include unchanged cash consideration of US$200 million and the release of Premier from letters of credit totalling approximately US$75 million (the "Disposal").

 

As the Disposal constitutes a class 1 transaction for Premier under the Listing Rules, a circular setting out further information regarding the Disposal and containing the Notice for a General Meeting is expected to be posted to shareholders tomorrow.

 

 

Enquiries

 

Premier Oil plc

Tel: 020 7730 1111

Tony Durrant, Chief Executive

 

Richard Rose, Finance Director

 


 

Camarco

Tel: 020 3757 4980

Billy Clegg

 

Georgia Edmonds

 

                                                                                                                                                                          

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCZMMZMZGZGNZM

a d v e r t i s e m e n t