23rd Mar 2007 07:01
Premier Oil PLC23 March 2007 PREMIER OIL PLC ("Premier" or "the Company") Indonesia Drilling Update Indonesia The Ibu Lembu-1 well has reached target depth, having fully penetrated allobjective reservoirs. The well has encountered gas in the Upper Gabus, in asection similar to that tested by the Lembu Peteng-1 well, drilled in theadjacent fault block in 2006. A comprehensive data collection programme has beencompleted and in accordance with the well programme, the well will now beplugged and abandoned. A full evaluation of the data will be carried out toassess the significance of the discovery in light of the neighbouring LembuPeteng and Lembu discoveries. Following completion of operations on the Ibu Lembu well, the Seadrill-5 rigwill move to the Gajah Sumatera-1 well location to drill a structure adjacent tothe Gajah Puteri Field. Simon Lockett, Premier's Chief Executive, commented: "We are pleased that our first operated well of the year has discovered gas andprogressed our understanding of the Lembu Trend. In Indonesia, Premier hasscored 13 successes out of 15 exploration and appraisal wells drilled since theyear 2000." 23 March 2007 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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