31st Mar 2006 10:11
Premier Oil PLC31 March 2006 PREMIER OIL PLC ("Premier" or "the Company") Drilling update - Lembu Peteng Indonesia Premier is pleased to announce the conclusion of testing operations on theoperated Lembu Peteng-1 well on Natuna Sea Block A. A test of the oil zone flowed at a stabilised rate of 610 bpd. A test was previously completed on two of the gas zones, which yielded 8.5 mmscf/d of gas plus 580 bpd of condensate. The Lembu-Peteng discovery lies approximately 14 km to the West of the producingKH field and there are follow-up prospects on the Lembu trend. Premier is the operator of Natuna Sea Block A with a 28.67% interest, and theother partners in the block are Kufpec (33.33%), Amerada Hess (23%) and Petronas(15%). Premier's Chief Executive, Simon Lockett, said: "Premier is delighted to be able to report its second operated well success ofthe year. The additional hydrocarbons discovered will add to the portfolio ofreserves to be commercialised through the second gas sale into Singapore. A further four exploration and appraisal wells are planned for the Block A andKakap area for 2006. The results from Lembu Peteng will facilitate theidentification of the exploration and appraisal targets. Premier's immediate operated exploration focus in the Natuna Sea now moves on tothe Dua and Blackbird high impact wells in Vietnam." 31 March 2006 ENQUIRIESPremier 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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