RockRose Energy plc is set to buy some UK oil and gas field stakes from Maersk Oil North Sea UK Ltd, a subsidiary of Danish oil firm Maersk Oil.
The two companies have signed non-binding headline terms and a period of exclusivity from under which RockRose would buy Maersk Oil’s non-operated interests in the Wytch Farm (7.43%), Scott (5.16%) and Telford (2.36%) fields.
In a statement on Wednesday, RockRose said that any potential transaction remains subject to contract, and 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.”