Premier joins Antrim in Erne probe

Antrim Energy has agreed to farm out part of its Erne prospect in the Greater Fyne Area in the UK central North Sea to Premier Oil.

Offshore staff

CALGARY, Canada -- Antrim Energy has agreed to farm out part of its Erne prospect in the Greater Fyne Area in the UK central North Sea to Premier Oil.

Premier will gain 50% of Antrim's 100%-owned license P1875 by funding a promoted share of costs of a well on Erne in block 21/29d.

Drilling is due to start later this summer with AGR Well Management providing well project management and drilling services, including the semisubWilPhoenix.

Erne is an Eocene Tay formation oil prospect situated between the Fyne and Guillemot NW fields at a drilling depth of roughly 6,000 ft (1,829 m). It is thought to be analogous to Guillemot NW, which produces oil from the Eocene Tay

In April, Antrim, Premier, and First Oil Expro agreed to collaborate on drilling of an appraisal well on the eastern flank of the Fyne field in license P077 block 21/28a. The East Fyne well should spud this fall.

07/08/2011

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