Premier Oil PLC Completion of the acquisition of assets from E.ON (7170W)
April 29 2016 - 2:00AM
UK Regulatory
TIDMPMO
RNS Number : 7170W
Premier Oil PLC
29 April 2016
29 April 2016
Premier Oil plc
('Premier' or the 'Company')
Completion of the acquisition of UK North Sea assets from
E.ON
The Board of Premier is pleased to announce that following
receipt of all necessary approvals, the acquisition of the UK North
Sea assets from E.ON has now completed.
Tony Durrant, Chief Executive, commented:
"We are pleased to have completed the acquisition of the UK
North Sea assets from E.ON which strengthens Premier's position in
the UK North Sea, adding high quality assets at a compelling
valuation of only $1.6/boe. The acquired assets have had a strong
start to 2016, performing ahead of expectation, adding immediate
cash generative production of over 17 kboepd and provide future
opportunities to enable us to deliver value for our
shareholders."
For further information please contact:
Enquiries
Premier Oil plc Tel: 020 7730 1111
Tony Durrant, Chief
Executive
Richard Rose, Finance
Director
Bell Pottinger Tel: 020 3772 2570
Gavin Davis
Henry Lerwill
This information is provided by RNS
The company news service from the London Stock Exchange
END
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