28th Feb 2008 07:01
Premier Oil PLC28 February 2008 PREMIER OIL PLC ("Premier") New Production Sharing Contract award - Vietnam Premier is pleased to announce the award of a 50% operating interest in Block104-109/05 on the western flank of the Song Hong Basin offshore of NorthernVietnam. A joint study between Premier and Petrovietnam has identified numerous leads onBlock 104-109/05 in water depths ranging from 20 metres to 60 metres. The PSCcarries a firm work commitment of seismic acquisition plus one exploration well. Mitsui Oil Exploration Company (MOECO) has a 50% interest in the Block 104-109/05 Joint Venture. Under a farm in agreement with Premier, MOECO will carryPremier on the first exploration well drilled on Block 104-109/05. A location map of the block is available at www.premier-oil.com Simon Lockett, Chief Executive commented: "Premier is building a new core business in Vietnam with oil field developmentunderway on Block 12W, exploration drilling in Block 12W beginning in March andseismic acquisition in Block 07/03 commencing in July. The award of Block104-109/05 adds significant prospectivity to Premier's Vietnam explorationportfolio." 28 February 2008ENQUIRIESPremier Oil plc Tel: 020 7730 1111Simon LockettTony DurrantJamie Bassett 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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