Oil and gas firms EnCore Oil and Premier Oil said today they come to an agreement on the terms over a takeover by Premier.
The £221million deal, announced last month, saw Premier make a 70p-a-share offer for EnCore.
It will make Premier the operator and 50% owner of the Catcher field in the North Sea.
Premier will also take on EnCore’s 16.6% interest in Cladhan, which could contain in excess of 300million barrels of oil.
The date by which a circular to shareholders must be posted has been delayed to November 18.