Premier rig to work over, drill Anoa field wells

Premier Oil PLC, after plugging and abandoning its Gajah Sumatera-1 exploration well on Natuna Sea Block A in Indonesia, is moving the Seadrill-5 rig to Anoa field to carry out a workover on an existing well. It will then drill a development well to exploit oil discovered last year in Anoa's Central Lobe.

May 9th, 2007

Uchenna Izundu
International Editor

HOUSTON, May 9 -- Premier Oil PLC, after plugging and abandoning its Gajah Sumatera-1 exploration well on Natuna Sea Block A in Indonesia, is moving the Seadrill-5 rig to Anoa field to carry out a workover on an existing well. It will then drill a development well to exploit oil discovered last year in Anoa's Central Lobe.

Last September, the company drilled an appraisal well into a new fault block on Anoa field and found a 67 ft column with an overlying 80 ft gas column that it said could greatly increase oil production.

Premier Chief Executive Simon Lockett said, "The Seadrill-5 now moves on to development activity to support existing gas sales contracts into Singapore and to exploit the oil discovered in 2006 in the Central Lobe of Anoa."

The abandoned Gajah Sumatera-1 exploration well drilled a structure adjacent to Gajah Puteri field, reaching a TD of 2,387 m. It had "some gas shows," Premier said, but no significant hydrocarbons.

Contact Uchenna Izundu at uchennai@pennwell.com

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