Ophir Energy Confirms Premier Oil Rejected Its Merger Proposal
Ophir Energy Plc confirmed Monday that that it has recently made an approach to the Board of Premier Oil plc with an indicative proposal to merge the two businesses as it believed that such a merger would provide the potential to create a well-funded, re-focused, full cycle exploration and production company.
"However, the proposal was subsequently rejected by the Premier Board," Ophir Energy said in a press release.
The company also confirmed that it is no longer considering making an offer for Premier Oil.
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