Holding(s) in Company

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Premier Oil plc

2. Reason for the notification   (please tick the appropriate box or boxes)

An acquisition or disposal of voting rights 

√

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An event changing the breakdown of voting rights

Other (please specify):___________________________________________

3. Full name of person(s) subject to the notification obligation:

Aviva plc & its subsidiaries

4. Full name of shareholder(s) (if different from 3.):

Registered Holder:

BNY Norwich Union Nominees Limited 791,739*

Chase GA Group Nominees Limited   1,586,187*

Chase Nominees Limited 65,553*

CUIM Nominee Limited 514,665*

* denotes direct interest

BNP Paribas - London   54,351

Chase Nominees Limited 300,844

State Street Nominees Limited  635,767

Vidacos Nominees Limited 87,945

5. Date of the transaction (and date on which the threshold is crossed or reached if different):

 16 May 2008

6. Date on which issuer notified:

19 May 2008

7. Threshold(s) that is/are crossed or reached:

5% to 4% Change at Combined Interest level 

8. Notified details:

A: Voting rights attached to shares

Class/type of shares 

 if possible using the ISIN CODE

Situation previous to the Triggering transaction 

Resulting situation after the triggering transaction

Number of Shares 

Number of Voting Rights viii

Number of shares 

Number of voting rights ix

% of voting rights

Direct

Direct x

Indirect xi

Direct

Indirect

Ordinary SharesGB0033560011

4,720,954 

4,720,954

2,958,144

2,958,144

1,078,907

3.60%

 1.31%

B: Financial Instruments

Resulting situation after the triggering transaction xii

Type of financial instrument 

Expiration date xiii

Exercise/ Conversion Period/ Date xiv 

Number of voting rights that may be acquired if the instrument is exercised/ converted. 

% of voting rights

N/A

Total (A+B)

Number of voting rights

% of voting rights

4,037,051

4.91%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable xv:

See Section 4

Proxy Voting:

10. Name of the proxy holder:

See Section 4

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

Figures are based on a total number of voting rights of 82,118,479.

14. Contact name:

Heather Garratt

15. Contact telephone number:

0207 730 1111