Chim Sao North appraisal successful

May 20, 2008
Premier Oil Plc. has completed drilling and testing of the Chim Sao North appraisal well on block 12W off Vietnam.

Offshore staff

LONDON –Premier Oil Plc. has completed drilling and testing of the Chim Sao North appraisal well on block 12W off Vietnam. The Middle Dua sand was reached as planned, successfully cored and logged, and two zones drillstem tested.

The first zone flowed a sustained 1,650 b/d of oil with 1.4 MMcf/d of gas on a 40/64th in choke. The second zone flowed 2,680 b/d of oil with 2.1 MMcf/d of gas on a 48/64th in choke.

The well is to be suspended as a future producer and theWilboss rig is scheduled to move to the Chim Ung prospect.

Premier holds a 37.5% interest in 12W with Santos at 37.5%, and Delek Energy at 25%.

"We now commence our three well exploration campaign on block 12W to include the drilling of the high-impact Chim Ung and Chim Cong prospects," says Simon Lockett, Premiere's CEO.

05/20/2008