Deferral of Financial Covenant Test

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PREMIER OIL PLC

("Premier" or "the Company")

Deferral of Financial Covenant Test

1 November 2016

As anticipated, Premier has received a monthly deferral in respect of the test of its financial covenants with the test for the 12 month period ending 31 October 2016 waived and replaced by a test for the 12 month period ending 30 November 2016. Premier expects to continue to receive monthly deferrals until negotiations with its lending group conclude.