Premier Oil, Drilling update

abarrelfullabarrelfull wrote on 11 Jul 2012 05:41

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16 Nov 2006

Premier Oil is very pleased to announce it has successfully completed drilling and logging of the Blackbird discovery well (12E-CS-1X) on Block 12E in Vietnam. The well drilled a large tilted fault block, 21 kms to the south-west of the recent successful wells in the Dua Field and updip of a previous well (12E-LK-1X) that had good oil shows. The well was drilled to a total depth (TD) of 4,058 metres.

The Blackbird well has discovered four oil bearing intervals in the main Middle Dua target. These have been wireline logged with oil samples recovered for further evaluation. In excess of 70 metres of net pay has been intersected. Preparations are ongoing for Drill Stem Tests over a number of intervals.

Simon Lockett, Premier's Chief Executive, commented:

"We are delighted to announce the success of our second high impact well in Vietnam this year, and expect the results of the Drill Stem Tests to be known within the next 10 days. The result is very encouraging for the potential commerciality of the Blackbird structure and will help us de-risk follow-up prospects on Blocks 12E & 12W including Peacock, Falcon and Quit. Work will begin as soon as possible on appraisal and conceptual pre-development studies for the Blackbird and Dua discoveries, together with new exploration on this acreage.

The focus of Premier's high-impact campaign now switches to India and the UK where the Masimpur-3 and Peveril operated wells are due to spud before year end."

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