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Completion of sale of Pakistan business

28 Mar 2019 07:00

RNS Number : 2497U
Premier Oil PLC
28 March 2019
 

 

PREMIER OIL PLC

("Premier")

Completion of sale of Pakistan business

28 March 2019

 

Premier is pleased to announce that it has completed the sale of Premier Oil Pakistan Holdings BV, which comprises Premier's Pakistan business, to Al-Haj Energy Ltd. This follows the receipt of necessary approvals and finalisation of working capital adjustments. 

 

In total Premier has received the full consideration of US$65.6 million for the sale including deposits and completion payments paid by the buyer and net cash flows collected by Premier since the economic date of the transaction.

 

 

Enquiries

 

Premier Oil plc

Tel: 020 7730 1111

Tony Durrant (CEO)

Richard Rose (Finance Director)

 

Camarco

Tel: 020 3757 4983

Billy Clegg

James Crothers

 

 

 

Notes to editors

Premier's Pakistan business comprised non-operated equity interests in six gas producing fields in Pakistan. In 2018, production from these fields averaged 5.3 kboepd (net to Premier).

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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