23rd Mar 2006 07:03
Premier Oil PLC23 March 2006 PREMIER OIL PLC ("Premier" or "the Company") Drilling update - Lembu Peteng Indonesia Premier is pleased to announce a discovery on Natuna Sea Block A in Indonesiawith its operated Lembu-Peteng 1 well. The well targeted sands in the Arang, Pasir, Intra Barat, and Upper Gabus. Logdata indicates the presence of 6 gas zones, and 1 oil zone. A test has been completed on two of the gas zones, which has yielded 8.5 mmscf/dof gas plus 580 bpd of high quality condensate. A further test of the oil zonewill follow shortly. The Lembu-Peteng discovery lies approximately 14 km to the East of the producingKH field and there are follow-up prospects on the trend. Premier is the operator of West Natuna Block A with a 28.67% interest, and theother partners in the block are Kufpec (33.33%), Amerada Hess (23%) and Petronas(15%). A further update will be provided on completion of testing operations. 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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