Premier Oil shares double as E.ON asset takeover cleared

* Premier Oil (LSE: PMO.L - news) shares up 129 pct

* Premier Oil eyeing more acquisitions - CEO

* Shareholder vote on deal to follow in March or April (LSE: 0N69.L - news) (Adds details, background, CEO quotes)

By Karolin Schaps

LONDON, Feb 1 (Reuters) - Shares (Berlin: DI6.BE - news) in British energy company Premier Oil more than doubled on Monday after trading resumed following a near three-week suspension triggered by a large acquisition announcement.

Premier Oil's $120 million purchase of E.ON's UK North Sea assets was no longer classified as a reverse takeover due to a drop in the final price tag, meaning the suspension in share trading could be lifted.

While the valuation of the assets, a portfolio of equity interests in 40 licences in the UK's North Sea, remained at $120 million, the amount of cash E.ON held in the business was less than first estimated.

"The cheque we will write on completion will be $135 million not $170 million," Premier Oil Chief Executive Tony Durrant told Reuters.

Premier Oil shares were up 129 percent at 43.5 pence at 0950 GMT.

For E.ON, the deal ends a sales process of its North Sea oil and gas business, which it put under review in late 2014.

Premier (NasdaqGS: PINC - news) 's Durrant said that the company was on the lookout for further acquisitions after completion of the E.ON deal.

"In the current environment there are a lot of things for sale and lots of things that we think would add to the business," Durrant said.

Energy experts are predicting an increase in mergers in the oil and gas sector this year as companies with weakened balance sheets look to sell assets and stronger players hunt for bargains, with oil prices at $35 a barrel.

Durrant added that Premier Oil would consider selling some of its newly acquired assets after he received interest from competitors who had also bid in the sales process.

"We know there is industry interest in some of the assets, so we'll keep that in mind."

The E.ON acquisition is subject to shareholder, bondholder and banking approval and Premier Oil said it plans to hold a shareholder vote in March or April. (Editing by Keith Weir, editing by Louise Heavens)