RockRose entered an agreement to buy the interests in September, but as the acquired business was larger in value than the buyer, the deal constituted a reverse takeover under AIM rules and as is standard during a reverse takeover, trading of all shares were suspended.

Yesterdays agreement will see RockRose buy a 7.4% interest in the Wytch Farm field, a 5.1% interest in the Scott field and a 2.4% interest in the Telford project.

The deal is subject to approval by the UK’s Oil & Gas Authority and RockRose said it anticipates its shares being restored to trading once all conditions on the acquisition have been satisfied.

The purchase does not seem to be the last for the organisation – a spokesperson advised “Further announcements will be made in due course.”