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Paladin Resources

Paladin Resources, the oil production company, is to be acquired by Talisman of Canada for £1.2bn.

Paladin Resources has secured government approval to proceed with the £165m development of the Blane oilfield in the North Sea.

Paladin Resources has confirmed plans to invest up to £300m in its oil and gas operations over the next four years, including a number of UK and Scandinavian North Sea developments.

Paladin Resources is planning to invest £90m in its newly-acquired North Sea oil operations.

Paladin Resources is to acquire a package of North Sea oil and gas assets from BP and Amerada Hess for £97m, partly funded by a £42m share placing, in order to increase production by up to 40%.

Paladin Resources has acquired the Danish business of Enterprise Oil for £25m.

Paladin Resources is looking to spend up to £50m on acquisitions, and aims to double oil production and reserves over the next three years.