Premier Oil PLC Completion of sale of Pakistan business (2497U)

TIDMPMO

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).

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