Last checked at (Sharecast News) - Low-carbon focussed energy producer Kistos confirmed in response to press speculation on Monday that it was participating in a process being run by Total to sell interests in certain of Total's West of Shetland gas assets.
The AIM-traded firm said its participation in the process was in keeping with its stated strategy of growth through acquisition.
It said it was one of a number of opportunities that had been "actively considered" over the last six months.
"If Kistos becomes the preferred bidder in the process currently being run by Total, it is expected that any acquisition would be funded using the company's existing resources," the board said in its statement.
"Shareholders are advised that there can be no certainty that Kistos' participation in this process will lead to a definitive transaction.
"If appropriate, the company will provide a further update to shareholders."
At 1138 GMT, shares in Kistos were up 0.3% at 396.2p.
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