17th Apr 2007 13:20
Premier Oil PLC17 April 2007 PREMIER OIL PLC ("Premier" or "the Company") Drilling Update Premier provides the following update on its current drilling activities. Guinea Bissau The Eirozes-1 well has been drilled to a total depth of 2,252m. The wellencountered Albian sandstones as prognosed. However, wireline logging has beencompleted and indicates the well has not encountered any significanthydrocarbons. The well is now being plugged and abandoned. UK The Peveril well has been drilled to a total depth of 3,003m. The well did notencounter reservoir quality sandstones, and is now being plugged and abandoned.Premier was carried through the costs of drilling Peveril through a farmdown ofits interest. Premier's Chief Executive, Simon Lockett, said: "Although we farmed out both wells substantially reducing our exposure, we aredisappointed that the Eirozes-1 and Peveril wells did not discover hydrocarbons.However, Premier's 2007 exploration campaign continues with the acquisition ofa major 3D seismic programme in Vietnam, the Masimpur-3 well in India and theGajah Sumatera-1 well in Indonesia, both of which are currently drilling. Inaddition, the Anne well, offshore Pakistan, is due to spud in June." 17 April 2007 ENQUIRIES Premier Oil plc Tel: 020 7730 1111Simon LockettTony Durrant Pelham PRJames Henderson Tel: 020 7743 6673Gavin Davis Tel: 020 7743 6677 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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