RockRose Energy Acquires Maersk Oil Assets

Source: www.gulfoilandgas.com 9/14/2016, Location: Europe

RockRose Energy plc has agreed non-binding headline terms and a period of exclusivity from Maersk Oil North Sea UK Ltd to acquire its non-operated interests in the Wytch Farm (7.43%), Scott (5.16%) and Telford (2.36%) fields. Any potential transaction remains subject to contract.

Any transaction would be subject to the agreement of a definitive Sale and Purchase Agreement ("SPA") with Maersk and the usual regulatory permissions from the Oil and Gas Authority ("OGA") and partners.

As any transaction would constitute a reverse takeover, the Company has requested that the UK Listing Authority ("UKLA") suspend the listing of the shares with immediate effect.

A further announcement will be made in due course.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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