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Premier Discovers Gas In Tuna PSC Off Indonesia

|Includes:Premier Oil plc (PMOIF)

Premier Oil has announced that the Singa Laut-1 well in Tuna PSC offshore Indonesia penetrated 177 ft of net gas-bearing reservoir quality sands within the targeted Oligocene sequence. The company said that the gas appears to be of similar quality to the liquids rich gas found in the adjacent Kuda Laut well.

The well will now be plugged and abandoned as a successful exploration well. Appraisal drilling for the Singa Laut and Kuda Laut oil and gas resources is expected in 2015.

In Apr-2014, Premier Oil discovered 183 ft of net oil-bearing reservoir and 327 ft of net gas-bearing reservoir at Kuda Laut-1 well in Tuna PSC off Indonesia.

In Apr-2013, Premier Oil discovered gas at Matang-1 exploration well, Indonesia.

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Stocks: PMOIF