Matang-1 well test results

PREMIER OIL PLC

("Premier")

Matang-1 well test results

13 May 2013

Premier is pleased to report results from the testing of the Matang gas discovery on Block A Aceh (Premier equity 41.97 per cent) in Indonesia.

The Upper Bampo Limestone formation has been tested over the interval 7,785 feet TVD to 7,853 feet TVD and has flowed gas at a rate of 25 mmscfd through a 52/64 inch choke. Initial sampling indicates that the gas contains approximately 15 per cent carbon dioxide.

The gross resource estimate for the Matang structure remains in line with the pre-drill estimate of 100 to 400 bcf.

Simon Lockett, Chief Executive Officer, commented:

"We are pleased that this successful well test has confirmed Matang as an important discovery coming as it does on the back of exploration successes in the UK and Norway."

Notes to editors

As per the announcement on 23 April, the Matang-1 well was drilled to a depth of 7,893 feet true vertical depth (TVD) and penetrated a gross gas column in the Upper Bampo Limestone formation (the primary reservoir target) of at least 90 feet. The base of the gas column was not encountered.

The partners in Block A Aceh are Medco (Operator, 41.67 per cent), Premier (41.67 per cent) and Japex (16.66 percent).