15th Feb 2006 07:01
Premier Oil PLC15 February 2006 PREMIER OIL PLC ("Premier" or "the Company") Drilling update Premier announces that the Macan Tutul - 1 exploration well in the Natuna SeaBlock A licence has reached a total depth of 9950' in order to evaluate deeperreservoir objectives in the Middle and Lower Arang sandstones. Wireline logshave identified the presence of hydrocarbons in this section of hole, althoughpreliminary evaluation suggests that these intervals are tight. As announced on31st January, the well had been drilled into the primary target in the Upper andMiddle Arang sandstones where it encountered gas as prognosed. In accordancewith the original drilling programme, the well which is located approximately12km southeast of the Premier operated Anoa field will now be plugged andabandoned. Premier believes that this addition to the portfolio will contributeto potential future developments in Block A. Premier is the operator of WestNatuna Block A with a 28.67% interest, and the other partners in the block areKufpec (33.33%), Amerada Hess (23%) and Petronas (15%). After completion of operations at Macan Tutul, the rig will be mobilised to theLembu Peteng prospect. These two wells are part of a 7-well exploration anddevelopment programme to be operated in Block A by Premier during the course of2006. 15 February 2006ENQUIRIESPremier Oil plc Tel: 020 7730 1111Simon LockettTony Durrant Pelham PRJames Henderson Tel: 020 7743 6673Archie Berens Tel: 020 7743 6679 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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