16th Nov 2006 07:01
Premier Oil PLC16 November 2006 PREMIER OIL PLC ("Premier" or "the Company") Drilling update Vietnam Premier Oil is very pleased to announce it has successfully completed drillingand logging of the Blackbird discovery well (12E-CS-1X) on Block 12E in Vietnam. The well drilled a large tilted fault block, 21 kms to the south-west of therecent successful wells in the Dua Field and updip of a previous well(12E-LK-1X) that had good oil shows. The well was drilled to a total depth (TD)of 4,058 metres. The Blackbird well has discovered four oil bearing intervals in the main MiddleDua target. These have been wireline logged with oil samples recovered forfurther evaluation. In excess of 70 metres of net pay has been intersected.Preparations are ongoing for Drill Stem Tests over a number of intervals. Simon Lockett, Premier's Chief Executive, commented: "We are delighted to announce the success of our second high impact well inVietnam this year, and expect the results of the Drill Stem Tests to be knownwithin the next 10 days. The result is very encouraging for the potentialcommerciality of the Blackbird structure and will help us de-risk follow-upprospects on Blocks 12E & 12W including Peacock, Falcon and Quit. Work willbegin as soon as possible on appraisal and conceptual pre-development studiesfor the Blackbird and Dua discoveries, together with new exploration on thisacreage. The focus of Premier's high-impact campaign now switches to India and the UKwhere the Masimpur-3 and Peveril operated wells are due to spud before year end." ENQUIRIESPremier Oil plc Tel: 020 7730 1111Simon LockettTony Durrant Pelham PRJames Henderson Tel: 020 7743 6673Gavin Davis Tel: 020 7743 6677 Notes for editors: On completion of the previously announced farmout agreement, Premier (asoperator) will hold a 37.5% interest in Block 12E. The other partners will beSantos (37.5%) and Delek Energy (25%). This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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