8th Jul 2009 09:11
PREMIER OIL plc
("Premier" or "the Company")
Norway Discovery
8th July 2009
Premier is pleased to announce the completion of well 35/12-2, Premier's first exploration well on licence PL378 in Norway in which the Company holds a 20% interest.
The objective of the well was to test the potential in the Viking group in the Upper Jurassic reservoir rocks and in the Brent group in the Middle Jurassic reservoir rocks. The well proved hydrocarbons in both reservoirs and extensive data acquisition and sampling has been carried out. The size of the combined oil and gas discovery is estimated at between 35 and 190 millions of barrels of oil equivalent.
Well 35/12-2 was drilled by the Songa Delta drilling facility to a vertical depth of 2512 metres below the sea surface, in water depth of 360 metres, and was terminated in the Rannoch Formation in the Middle Jurassic. The discovery lies 10km north east of the Fram field in the Norwegian North Sea.
Simon Lockett, Chief Executive Officer, commented:
"Premier entered Norway in 2005, primarily with an exploration-led strategy; we are delighted that our first exploration well is a discovery and look forward to pursuing other prospectivity on the licence.
Over the next 18 months Premier plans to drill at least four further exploration and appraisal wells in Norway, and our initial success bodes well for this future programme."
Enquiries
Premier Oil plc Tel: 020 7730 1111
Simon Lockett
Tony Durrant
Pelham PR
James Henderson Tel: 020 7337 1501 / 07774 444 163
Gavin Davis Tel: 020 7337 1515 / 07910 104 660
Evgeniy Chuikov Tel: 020 7337 1513 / 07894 608 606
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