LONDON-- Hague & London Oil PLC (HNL.LN) Monday announced of gas production assets in the North Sea from Tullow Oil PLC's (TLW.LN) Netherlands arm for an enterprise value of 4.8 million euros ($5.1 million).

Tullow Netherlands Holding Coöperatief B.A. will receive EUR9.8 million when the deal completes plus EUR20 million in contingency payments between 2019 and 2012, H&L said.

The deals counts as a reverse takeover given its size, said H&L, whose shares were suspended on April 4 due to it being in talks about the acquisition.

An enterprise value of a company takes account of its cash and debt.

-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter: @RoryGallivan

(END) Dow Jones Newswires

April 10, 2017 02:37 ET (06:37 GMT)

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