Premier Oil plc

("Premier" or the "Company")

Chrysaor merger update: UK regulatory condition satisfied, Mexican approval received

23 February 2021

Premier is pleased to announce that all of the regulatory conditions relating to the Company's merger with Chrysaor have now been satisfied and all of the requisite anti-trust approvals have been received.

Following receipt of notice from the Oil and Gas Authority (OGA), the regulatory condition to the Transaction regarding Premier's and Chrysaor's licence interests in the UK has been satisfied.  

In addition, Premier has received anti-trust approval in relation to the merger from the Mexican Economic Competition Commission. 

Following the positive creditor vote on 22 February, the Transaction remains subject to sanction by the Scottish Court of the restructuring plans expected to take place on 19 March.

Assuming the Scottish Court sanctions the restructuring plans, Premier expects the Transaction to complete on 31 March with Premier's shares to be readmitted to trading on 1 April as Harbour Energy plc. 

Terms defined in the announcement of 6 October shall have the same meaning in this announcement.

Enquiries

Premier Oil plc                                                                                                 020 7824 1116

Richard Rose, Interim Chief Executive, Finance Director

Elizabeth Brooks, Head of Investor Relations

Camarco                                                                                                            020 3757 4983

Billy Clegg

Georgia Edmonds