Premier ##erus is to sell its entire stakes in licenses PL089 and P534 , which contain a Farm field , to lend ##ers for $ 200 m . Premier will be able to release letters of credit totalling about $ 75 million , issued in relation to future mortgage liabilities that are now being transferred to Verus .
Premier Oil is to sell its entire stakes in licenses PL089 and P534, which contain Wytch Farm field, to Verus Petroleum for $200m. Premier will be able to release letters of credit totalling about $75m, issued in relation to future decommissioning liabilities that are now being transferred to Verus.