PREMIER OIL PLC 5% BONDS DUE 2020 - INFORMATION BOOKLET
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INFORMATION BOOKLET 25 November 2013 PREMIER OIL PLC 5% BONDS DUE 2020 Joint Lead Managers Barclays Canaccord Genuity Limited Lloyds Bank Authorised Offerors Barclays Stockbrokers Brown Shipley Canaccord Genuity Wealth Killik & Co Redmayne Bentley LLP Selftrade Smith & Williamson This is an advertisement and not a prospectus. Any decision to purchase or sell the Bonds should be made solely on the basis of a careful review of the Prospectus and Final Terms.
IMPORTANT INFORMATION
This Information Booklet is an advertisement Prudential Regulation Authority and regulated by
for the purposes of Prospectus Rule 3.3 and the Financial Conduct Authority and the Prudential
Article 34 of Commission Regulation (EC) No Regulation Authority, Canaccord Genuity Limited
809/2004 (as amended) and is not a prospectus (“Canaccord Genuity”) (incorporated in England
for the purposes of EU Directive 2003/71/EC (as No. 1774003) whose registered office is 88 Wood
amended) (the “Directive”) and/or Part VI of the Street, London, EC2V 7QR, is authorised and
Financial Services and Markets Act 2000 (the regulated by the Financial Conduct Authority and
“FSMA”). Lloyds Bank plc (“Lloyds Bank”) (incorporated
in England No. 2065), whose registered office
Premier Oil plc (“Premier Oil”) is the legal is 25 Gresham Street, London, EC2V 7HN, is
entity that will issue the Bonds (the meaning authorised by the Prudential Regulation Authority
of that term is explained below) and certain and regulated by the Financial Conduct Authority
subsidiaries of Premier Oil defined as the and the Prudential Regulation Authority and is a
‘Subsidiary Guarantors’ in the Prospectus (as member of the London Stock Exchange.
defined and referred to below) are, or will be,
the legal entities that will guarantee payments This Information Booklet is not an offer for the
under the Bonds in accordance with their terms. subscription or sale of the Bonds (defined in the
Please refer to the section headed “Key following paragraph).
Features of the Bonds - Guarantee” on page
5 of this document for full details of the This Information Booklet relates to the Premier
guarantee. References to “Premier Oil” or to Oil 5% Sterling fixed rate Bonds due 2020
the “Issuer” in this document are references to (referred to in this Information Booklet as
Premier Oil plc, references to “the Guarantors” the “Bonds”). A base prospectus dated 18
are references to the subsidiaries of Premier Oil November 2013 (the “Prospectus”) which
which are defined as the ‘Subsidiary Guarantors’ relates to Premier Oil plc’s £500,000,000 Euro
in the Prospectus. Premier Oil plc is the parent Medium term Note Programme and which
company of the Premier Oil Group. References comprises a base prospectus for the purposes
to “the Group” or “the Premier Oil Group” are of Article 5.4 of the Directive, and final terms
references to Premier Oil plc and its subsidiaries relating to the Bonds dated 25 November
taken as a whole. 2013 (the “Final Terms”), have been prepared
and made available to the public in accordance
This Information Booklet is a financial promotion with the Directive. Copies of the Prospectus
prepared by Premier Oil and approved by and Final Terms are available from the
Barclays Bank PLC, Canaccord Genuity Limited website of Premier Oil (www.premier-oil.com/
and Lloyds Bank plc solely for the purposes of bonds) and the website of the London Stock
section 21(2)(b) of the FSMA. Barclays Bank PLC Exchange plc (www.londonstockexchange.
(“Barclays Bank”) (incorporated in England No. com/newissues). Your Authorised Offeror will
1026167), whose registered office is 1 Churchill provide you with a copy of the Prospectus and
Place, London, E14 5HP, is authorised by the the Final Terms.
1
This Information Booklet should not be relied on
for making any investment decision in relation
to the purchase of the Bonds. Any investment
decision should be made solely on the basis of
a careful review of the Prospectus and the Final
Terms. Please therefore read both the Prospectus
and the Final Terms carefully before you invest.
You should ensure that you understand and accept
the risks relating to an investment in the Bonds
before making such an investment. You should
seek your own professional investment, legal and
tax advice as to whether an investment in the
Bonds is suitable for you.
The Bonds may only be sold in Jersey in
compliance with the provisions of the Control of
Borrowing (Jersey) Order 1958 and the Financial
Services (Jersey) Law 1998. The Bonds may only
be sold in Guernsey in compliance with the
provisions of the Protection of Investors (Bailiwick
of Guernsey) Law 1987. The Bonds may only be
sold in the Isle of Man in compliance with the
provisions of the Isle of Man Financial Services Act
2008 and the Regulated Activities Order 2011.
This Information Booklet is not for distribution in
the United States of America or to U.S. persons.
The Bonds have not been and will not be
registered under the United States Securities Act
of 1933, as amended (the “Securities Act”) and
the Bonds, which are in bearer form, are subject
to certain U.S. tax law requirements. The Bonds
may not be offered, sold or delivered within the
United States of America or to U.S. persons. For
additional information, see the “Subscription and
Sale” section in the Prospectus and item 8(vi) in
Part B of the Final Terms.
2
PREMIER OIL PLC 5% BONDS DUE 2020
The Premier Oil 5% Sterling fixed rate Bonds due redeemed or purchased and cancelled. If Premier
2020 pay interest of 5% per annum on the face Oil and the Guarantors go out of business or
value of £100 per Bond. become insolvent before the Maturity Date, you
may lose some or all of your investment.
The Bonds will be issued by Premier Oil and
payments in respect of them will be guaranteed by The only way to purchase these Bonds is through
the Guarantors (i.e. those subsidiaries of Premier a stockbroker or other financial intermediary
Oil defined as the Subsidiary Guarantors in the which has been granted consent by the Issuer
Prospectus). Please refer to the sections headed and the Guarantors to use the Prospectus and
“Key Features of the Bonds” and “Key Risks of Final Terms (an ”Authorised Offeror”). Contact
Investing in the Bonds” for further information on your stockbroker or other financial intermediary
the guarantors and the guarantee and its limitations. today, or any of those listed in the “Authorised
Offerors” section of this document on page 12 if
Interest will be paid in two equal instalments a you wish to purchase these Bonds. The minimum
year, on 11 June and 11 December every year initial amount of Bonds you must buy is £2,000.
(with the first payment being made on 11 June Purchases of greater than £2,000 must be in
2014) up to and including 11 December 2020 multiples of £100. After the initial purchase of
(the “Maturity Date”), unless the Bonds have Bonds during the Offer Period, the Bonds can
previously been redeemed or purchased and be bought and sold in multiples of £100. Your
cancelled. On the Maturity Date (i.e. 11 December Authorised Offeror will provide you with a copy
2020) Premier Oil is required to repay an amount of the Prospectus and the Final Terms. You should
equal to the face value of the Bonds (i.e. £100 for read the “Important Information” section of this
each Bond) unless the Bonds have previously been document on page 1.
3
What is a bond?
A fixed rate bond is a form of borrowing by a
company seeking to raise funds from investors.
The Bonds have a fixed life. The company
promises to pay a fixed rate of interest to the
investor until the date that the bond matures (i.e.
in the case of the Bonds, the Maturity Date) when
it also promises to repay the amount borrowed.
A bond is a tradable instrument; meaning that
you do not have to keep the Bonds until the date
when they mature. The market price of a bond
will vary between the start of a bond’s life and
the date when it matures. Please see the “Key
Risks of Investing in the Bonds” and “Further
Information - How to trade the Bonds” sections
of this document on pages 7 & 10.
Interest on the Bonds
The level of interest payable on the Bonds is fixed
when the Bonds are issued. The rate of interest on
the Bonds is 5% per annum.
Therefore, for every £2,000 of Bonds (i.e. the
minimum initial amount of Bonds you may buy)
held, Premier Oil will pay interest of £50 twice a year
until the Maturity Date, starting on 11 June 2014.
You should refer to the section headed “Key Risks
of Investing in the Bonds” on page 7 of this
document for information on the risks relating to
an investment in the Bonds.
Payment on the face value of the Bonds
Provided that Premier Oil does not go out of
business or become insolvent, and provided that
the Bonds have not been redeemed or purchased
and cancelled early, the Bonds will be redeemed
at 100% of their face value (i.e. £100) on the
Maturity Date (i.e. 11 December 2020).
4
KEY FEATURES OF THE BONDS
Issuer: Premier Oil plc. such earlier time and date as agreed by Premier Oil,
the Guarantors and the Joint Lead Managers and
Guarantee: All payments due from Premier Oil announced via a Regulatory Information Service
under the Bonds (in accordance with their terms) (which is expected to be the Regulatory News
will be guaranteed by the Guarantors (i.e. those Service operated by the London Stock Exchange)
subsidiaries of Premier Oil defined as the Subsidiary (the “End of Offer Date”).
Guarantors in the Prospectus). This means that
if Premier Oil does not pay such amounts under Authorised Offerors: A number of authorised
the Bonds when they are due, the Guarantors will offerors (listed on page 12 of this Information
(assuming that they are solvent and able to) pay Booklet) have been approved by Premier Oil
them on its behalf - please refer to “Guarantee and and the Guarantors to provide this document,
Status” in “Terms and Conditions of the Notes” the Prospectus and the Final Terms to potential
(the “Conditions”) at page 125 of the Prospectus. investors in the Bonds until the End of Offer Date.
In the event that the Guarantors do not fulfil these Premier Oil has also granted its consent for other
obligations, you may lose some or all of your financial intermediaries to use the Prospectus and
investment. See the section headed “Key Risks Final Terms for the purposes of making offers of the
of Investing in the Bonds” on page 7 of this Bonds to potential investors in the United Kingdom.
document for information on the risks relating to an The conditions attached to this consent are set out
investment in the Bonds. in the section headed Important Legal Information
– Basis of Consent on page 116 of the Prospectus
The identity of the Guarantors is subject to change. and paragraph 8(vii) of Part B of the Final Terms.
Premier Oil has undertaken to procure that the
guarantors of the Bonds will consist of those Any offer to sell the Bonds made or received
subsidiaries of Premier Oil plc (if any) which are from any other party, or by any party after
either a borrower under or provide a guarantee in the End of Offer Date, may not have been
respect of the Group’s principal banking facilities or approved by Premier Oil and the Guarantors
any bond type debt. At any given time therefore, and you should check with such party whether
there may be no entities acting as guarantors in or not such party is so approved.
respect of the Bonds.
Date on which the Bonds are issued
Interest rate: 5% per annum. Your actual return and on which interest begins to accrue:
will depend on the price at which you purchase 11 December 2013.
the Bonds and, if you do not hold the Bonds until
maturity, the price at which you sell your Bonds. Term of the Bonds: 7 years.
Interest payments: Interest will be paid in two Maturity Date (i.e. when the Bonds mature and
instalments a year, on 11 June and 11 December are repayable): 11 December 2020.
in each year, starting on 11 June 2014, up to and
including the Maturity Date (11 December 2020). Face value of each Bond: £100. Although
the face value of each Bond is £100, it is not
Offer Period: The Bonds are available for purchase possible to purchase less than £2,000 during the
through your stockbroker or other financial Offer Period. In the secondary market, it should
intermediary in the period from 25 November 2013 be possible to purchase and sell the Bonds in
until noon on 6 December 2013 (London time) or multiples of £100.
5
Issue price: 100 per cent. of the face value of
each Bond (i.e. £100).
Negative Pledge: Premier Oil and the Guarantors
undertake that neither they nor any of their
respective subsidiaries will create a security interest
over any of their assets to secure any bond type
debt and/or any debt raised under the principal
bank facilities of the Group without equally and
at the same time securing the Bonds, subject to
certain exceptions set out in the Conditions.
Redemption at Maturity Date: Assuming
Premier Oil does not go out of business or
become insolvent, and assuming the Bonds have
not been redeemed or purchased and cancelled
early, the Bonds will be redeemed at 100 per of Control” and “Terms and Conditions of the
cent. of their face value on the Maturity Date Notes” at pages 148-151 of the Prospectus).
(i.e. 11 December 2020).
Trading: Investors will, subject to market
Early Redemption by the Issuer: Premier Oil will conditions, be able to buy Bonds or sell their
have the option to redeem the Bonds early (in whole Bonds during the term of the Bonds. See the “Key
but not in part), at any time at 100% of their face Risks of Investing in the Bonds” and “Further
value or, if higher, an amount calculated by reference Information - How to trade the Bonds” sections
to the prevailing yield of the 3.75% United Kingdom of this document for more details.
Government Treasury Stock due 2020 plus a margin
of 0.5%, together with any accrued interest, as ISA and SIPP eligibility: At the time of issue, the
further detailed in the Final Terms. Bonds should be eligible for investing in a Stocks
& Shares ISA or SIPP.
Early redemption due to change in relevant
tax laws: In the event of any actual or proposed Bond ISIN: XS0997703250.
change in tax law that would result in the Issuer or
the Guarantors being required to pay additional Amount of Bonds to be issued: The total amount
amounts in respect of the Bonds, the Bonds may of the Bonds to be issued will depend on the
be redeemed early in certain circumstances (in number of applications to purchase the Bonds
whole but not in part) at the Issuer’s option at received before the End of Offer Date. There is no
their early redemption amount as set out in the minimum total amount of Bonds that may be issued.
Conditions plus accrued interest.
Joint Lead Managers: Barclays Bank PLC,
Optional early redemption by the bondholders: Canaccord Genuity Limited and Lloyds Bank plc.
Holders of the Bonds will have the option to
require the Issuer to purchase or redeem the You should refer to the “Important Information”
Bonds at 100% of their face value, together with and “Key Risks of Investing In The Bonds”
interest accrued, on a change of control event (as sections of this documents and to the
further detailed in “Redemption Following Change Prospectus and to the Final Terms.
6
KEY RISKS OF INVESTING IN THE BONDS
A number of particularly important risks relating • If you choose to sell your Bonds at any time
to an investment in the Bonds are set out below. prior to the Maturity Date, the price you receive
The risks set out below are not intended to be a from a purchaser could be less than your original
comprehensive list of all the risks that may apply investment. Factors that will influence the
to an investment in the Bonds. You should seek market price of the Bonds include, but are not
your own independent professional investment, limited to, market appetite, inflation, the time
legal and tax advice as to whether an investment of redemption, interest rates and the financial
in the Bonds is suitable for you. You should be position of Premier Oil and the Guarantors. In
aware that you could get back less than you particular, you should note that:
invest or lose your entire initial investment.
– if interest rates start to rise, then the income
Full risk factors relating to Premier Oil, the to be paid by the Bonds might become less
Guarantors and the Bonds are set out in the attractive on a relative basis and the price
section headed “Risk Factors” on page 17 of you get if you sell could fall. However, the
the Prospectus. Please read them carefully. market price of the Bonds has no effect on
the income you receive or what you get back
• As subsidiaries of the Issuer, if Premier Oil on expiry of the Bonds if you hold on to the
goes out of business or becomes insolvent, it Bonds until they mature; and
is likely that that the Guarantors will also be
facing financial difficulties and/or insolvency. – inflation will reduce the real value of the
This means that the Guarantee may be of Bonds. This may affect what you could buy
limited value in terms of continuing to receive with the return on your investment in the
interest under the Bonds or recovering the future and may make the fixed interest rate
money you have invested. Please refer to the on the Bonds less attractive in the future.
section headed “Key Features of the Bonds
- Guarantee” on Page 5 of this document for • If you invest at a price other than the face value
full details of the guarantee. of the Bonds, the overall return or ‘yield’ on the
investment will be different from the headline
• All obligations arising out of or in connection yield on the Bonds. The headline indication of
with the Bonds will be the sole responsibility yield applies only to investments made at (rather
of Premier Oil and the Guarantors (in the event than above or below) the face value of the Bonds.
that Premier Oil is unable to make payments).
If Premier Oil and the Guarantors go out of • There is no guarantee of what the market price
business or become insolvent, you may lose for selling or buying the Bonds will be at any
some or, in the worst case scenario, all of your time. If prevailing market conditions reduce
investment in the Bonds. market demand for the Bonds, the availability of a
market price may be impaired. Although Barclays
• Unlike a bank deposit, the Bonds are Bank PLC, Canaccord Genuity Limited and
not covered by the Financial Services Lloyds Bank plc will act as market makers (See
Compensation Scheme (“FSCS”). As a result, the “Further Information - How to trade the
the FSCS will not pay compensation to an Bonds” section of this document) for the Bonds,
investor in the Bonds in the event of the failure if trading activity levels are low, this may severely
of Premier Oil or the Guarantors. and adversely impact the price that you would
receive if you wish to sell your Bonds.
7
PREMIER OIL PLC
Overview the year ended 31 December 2012 was 57,700
Premier Oil plc is an international independent barrels of oil equivalent per day and production
oil and gas exploration and production company for the first half of 2013 was 58,600 barrels of
headquartered in London with a market oil equivalent per day. Because of the quality of
capitalisation of approximately £1.8 billion as at the assets, the Group’s existing producing fields
31 October 2013. It is the parent company of generate significant cash flow even at lower
the Premier Oil Group which has interests in ten oil and gas prices, and the company also has a
countries, with significant assets in the North Sea, conservative hedging policy in place.
both UK and Norway, Indonesia, Vietnam, Pakistan
and the Falkland Islands. The Group also has a portfolio of discovered
fields in the development phase. Projects that
History are planned to commence production in the next
The Premier Oil Group was founded 79 years few years are located in the UK, Norway, Vietnam,
ago in Scotland to pursue oil and gas exploration Indonesia and the Falkland Islands. The Group
and production activities in Trinidad. In 1936, the is targeting future production rates in excess of
Group’s holding company was publicly listed in 100,000 barrels of oil equivalent per day based on
London as Premier (Trinidad) Oilfields Limited, and the potential of this portfolio, and is the operator
for the next two decades the Group focussed on of the majority of the projects.
oil production in Trinidad. The Group acquired
its first interest in the North Sea in 1971 and over As at 31 December 2012, the Group had a
the next few decades expanded its presence into reserves and contingent resource base of 772.7
other geographical areas. million barrels of oil equivalent including 2P
reserves of 291.9 million barrels of oil equivalent,
The Group today pursues its strategy of low-risk based on its own appraisal of its assets. Based
development of existing discovered reserves whilst on these booked reserves and the average
maintaining shareholder leverage to material production for the full year ending 31 December
exploration upside. The Group is pre-funded 2012, the average remaining life span of the fields
for its committed development and exploration that are currently producing would be 13 years,
programmes. but the Group expects to extend the longevity
of the portfolio by bringing as yet undeveloped
Assets discoveries on to production and with future
The portfolio consists of oil and gas fields which exploration success.
are already producing, discovered fields not yet
producing which are undergoing development The Group’s strategy is comprised of five main
planning and execution, and licences to explore elements:
for new oil and gas fields in prospective areas.
Fields which are already producing or for which • Increasing near-term production to 75,000
the decision to invest in the development has barrels of oil equivalent per day from its
already been made are classified as ‘2P reserves’ existing proven and probable reserves base;
and other undeveloped discoveries are classified
as ‘2C contingent resources’. Current production • Promoting further growth through
comes from 20 producing assets in the UK, commercialising the Group’s contingent
Pakistan, Vietnam and Indonesia. Production for resources;
8
• Adding 200 million barrels of reserves through Financial track record
exploration by focusing on core geologies, in In the financial year ended 31 December 2012, the
order to underpin the Group’s medium term Group achieved revenues of US$1,408.7 million
production target of 100,000 BOE per day; and a profit after tax of US$252.0 million. In the
six months to 30 June 2013, the Group achieved
• Making value-adding acquisitions in the revenues of US$757.8 million and a profit after tax
Group’s six business units (UK, Norway, of US$161.1 million. As at 30 June 2013, the Group
Pakistan/Mauritania, Indonesia, Vietnam and had cash resources and undrawn bank facilities of
the Falkland Islands); and approximately US$1 billion and a gearing of 39 per
cent. Net debt was US$1,315.8 million including
• Maintaining financial strength and access to cash resources of US$182.3 million.
capital markets.
You should refer to the sections headed
“Description of the Issuer and the Group” on
page 36 in the Prospectus and “Description of
the Initial Subsidiary Guarantors” on page 88 in
the Prospectus for full information on the Group.
Note:
million barrels of oil equivalent (“mmboe”) and;
thousand barrels of oil equivalent per day (“kboepd”)
9FURTHER INFORMATION
Holding the Bonds Pricing information for sales and purchases of
The Bonds will be held in custody for you by your the Bonds in the market will be available during
Authorised Offeror, or as may be arranged by your market hours (8.00am to 4.30pm London time)
stockbroker or financial adviser. and in normal market conditions on the ORB.
How to trade the Bonds As noted above, notwithstanding that Barclays
The Bonds are expected to be listed on the Bank PLC, Canaccord Genuity Limited and Lloyds
Official List of the UK Listing Authority and Bank plc will act as market makers (as explained
admitted to trading on the regulated market of above), if trading activity levels are low, this may
the London Stock Exchange plc. severely and adversely impact the price that an
investor would receive if he/she wishes to sell his/
The Bonds are also expected to be eligible for the her Bonds.
London Stock Exchange’s electronic Order Book
for Retail Bonds (“ORB”). Fees
Premier Oil will pay certain fees and commissions
The ORB was launched in response to private in connection with the offer of the Bonds. The
investor demand for easier access to trading Joint Lead Managers will receive a fee of 0.9% of
bonds with the aim of providing a transparent the aggregate nominal amount of the Bonds of
and efficient mechanism for UK retail investors to which 0.5% will be distribution fees available to
access the bond markets. The Bonds are tradable Authorised Offerors as follows:
instruments and prices will be quoted in the
market during trading hours. (i) each Initial Authorised Offeror (as defined in
the Final Terms) will be entitled to receive a
The Bonds are expected to be supported in a fee of up to 0.5% of the total face value of
market-making capacity by Barclays Bank PLC, the Bonds issued and allotted to such Initial
Canaccord Genuity Limited and Lloyds Bank plc. Authorised Offeror; and
Market-making means that a person will maintain (ii) each Additional Authorised Offeror will be
prices for buying and selling the Bonds. Each of entitled to receive a fee of up to 0.25% of
Barclays Bank PLC, Canaccord Genuity Limited the total face value of the Bonds issued
and Lloyds Bank plc will be appointed as a and allotted to such Additional Authorised
registered market maker through the ORB (www. Offerors.
londonstockexchange.com/exchange/prices-and-
markets/retail-bonds/retail-bonds-search.html) Authorised Offerors may charge expenses to
when the Bonds are issued. you in respect of any Bonds purchased and/or
held. These expenses are beyond the control of
Investors should, in most normal circumstances, the Issuer and are not set by the Issuer. Neither
be able to sell their Bonds at any time, subject to the Issuer, the Guarantors nor (unless acting as
market conditions, by contacting their stockbroker. an Authorised Offeror) any of the Joint Lead
As with any investment, there is a risk that an investor Managers is responsible for the level or payment
could get back less than his/her initial investment of any of these expenses.
or lose his/her initial investment in its entirety. See
the section headed “Key Risks of Investing in the
Bonds” on page 7 of this document.
10Taxation of the Bonds ISA and SIPP eligibility of the Bonds
The tax treatment of an investor will depend At the time of issue, the Bonds should be eligible
on his or her individual circumstances and for investing in a stocks and shares ISA (Individual
taxation law and practice at the relevant time Savings Account) or SIPP (a self-invested personal
(and so may be subject to change in the future). pension). However, prospective investors should
Prospective investors should consult their own seek independent advice as to whether the
independent professional tax advisers to obtain specific terms of their arrangement permits
advice about their particular tax treatment in investment of this type. The tax treatment of
relation to the Bonds. an investor will depend on his/her individual
circumstances and taxation law and practice at the
If you make an investment in the Bonds, the tax relevant time (and so may be subject to change in
treatment which will apply to you will depend on the future).
your individual circumstances and taxation law
and practice at the relevant time (and so may be See also the “Taxation of the Bonds” section
subject to change in the future). above.
Please also refer to the section at page 114 of the You should refer to the sections headed
Prospectus entitled “Taxation” for information “Subscription and Sale” on page 105 of the
regarding certain aspects of United Kingdom Prospectus, “Taxation” on page 114 of the
taxation of payments of interest on the Bonds. Prospectus, “Important Legal Information” on
page 116 of the Prospectus and “Additional
All amounts, yields and returns described herein Information” on page 185 of the Prospectus.
are shown before any tax impact.
It is the responsibility of every investor to comply
with the tax obligations operative in their country
of residence.
11AUTHORISED OFFERORS
Barclays Stockbrokers
www.BarclaysStockbrokers.co.uk/Pages/
PremierOil.aspx
Brown Shipley
www.brownshipley.com/retail-bonds
Canaccord Genuity Wealth
www.canaccord.com/wm
Killik & Co
www.killik.com/bonds
Redmayne Bentley LLP
www.redmayne.co.uk/premier
Selftrade
www.selftrade.co.uk/premier
Smith & Williamson
www.smith.williamson.co.uk/fixed-income-
dealing-service
12DISCLAIMER The contents of this document are indicative and are subject to change without notice. This document should not be relied on for making any investment decision in relation to the purchase of Bonds. Any decision to purchase or sell the Bonds should be made by you solely on the basis of a careful review of the Prospectus and the Final Terms. Please therefore read the Prospectus and the Final Terms carefully before you invest. Before buying or selling any Bonds you should ensure that you fully understand and accept the risks relating to an investment in the Bonds, otherwise you should seek professional independent advice. Each of Barclays Bank PLC, Canaccord Genuity Limited and Lloyds Bank plc is acting for itself and will not act and has not acted as your legal, tax, accounting or investment adviser and will not owe you or your clients any fiduciary duties in connection with a purchase or sale of the Bonds or any related transaction. No reliance may be placed on any of Barclays Bank PLC, Canaccord Genuity Limited or Lloyds Bank plc for advice or recommendations of any sort. Barclays Bank PLC, Canaccord Genuity Limited and Lloyds Bank plc make no representation or warranty to you with regard to the information contained in the Prospectus and the Final Terms. This Information Booklet contains information derived from the Prospectus and the Final Terms and is believed to be reliable but, in so far as each of them may do so under applicable law, Barclays Bank PLC, Canaccord Genuity Limited and Lloyds Bank plc do not warrant or make any representation as to its completeness, reliability or accuracy. Neither Barclays Bank PLC, Canaccord Genuity Limited, Lloyds Bank plc, Premier Oil nor any Guarantor is responsible for any advice or service you may receive from a third party in relation to the Bonds. Barclays Bank PLC, Canaccord Genuity Limited and Lloyds Bank plc and their affiliates, connected companies, employees and/or clients may have an interest in the Bonds and/or in related investments. Such interest may include dealing, trading, holding, acting as market makers in such instruments and may include providing banking, credit and other financial services to any company or issuer of securities referred to herein. This document does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase, any Bonds. Any purchase or sale of Bonds should only be made on the basis of the information contained in the Prospectus and the Final Terms, available as described above.
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