Premier rejects Ophir’s merger proposal

Further to recent press speculation, Ophir Energy has confirmed that it recently made an approach to the Board of Premier with an indicative proposal to merge the two businesses.

The Ophir Board believed that merging the two businesses provided the potential to create a well-funded, re-focussed, full cycle Exploration and Production company. However, the proposal was subsequently rejected by the Premier Board.

Ophir confirms that it is no longer considering making an offer for Premier.

As a result of this announcement, Ophir will, except with the consent of the Panel, be bound by the restrictions contained in Rule 2.8 of the Code. For the purposes of Rule 2.8 of the Code, Ophir reserves the right to make or participate in an offer for Premier (and/or take any other action which would otherwise be restricted under Rule 2.8 of the Code) within the next six months following the date of this announcement in the circumstances set out in Note 2 on Rule 2.8 of the Code.

Press Release, April 28, 2014

Share this article

Follow Offshore Energy Today

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1

Offshore Energy Exhibition and Conference (OEEC) 2020

Offshore Energy addresses the technical, operational and commercial challenges associated with future sector growth.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

OWI APAC 2020

Over the two-day conference, 30 expert speakers will share exclusive insight to help drive well work efficiencies through innovative…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply