Premier Oil 'in talks to buy E.On's UK North Sea assets'

The news came after Premier confirmed its shares had been suspended from the London Stock Exchange ahead of a potential takeover.

 

The possible deal is thought to be worth more than 150 million euros (£112m), according to Reuters.

E.On is operator of the Huntington field in the Central North Sea.

It also has production interests in the Elgin, Franklin, Glenelg, West Franklin, Scoter and Merganser fields.

E.On also operates the Babbage, Johnston, Hunter and Rita producing fields in the Southern North Sea.

In a statement, Premier said: "At the request of the company, Premier's ordinary shares have been suspended from trading on the London Stock Exchange with effect from 07:30 this morning pending an announcement of a potential acquisition of assets by Premier which may be classified as a reverse takeover under the FCA Listing Rules.

"Therefore, the company has requested the temporary suspension of trading in its ordinary shares whilst clarification is sought from the UKLA.

"A further update will be provided shortly."