Premier Oil PLC Update on the Sale of Wytch Farm (9940W)
20 November 2017 - 11:30PM
UK Regulatory
TIDMPMO
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
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