Premier updates offshore exploration drilling

Premier reports that the Kuda Laut-1 well in Tuna PSC (Premier, operator, 65%) offshore Indonesia has discovered 183 ft (56 m) of net oil-bearing reservoir and 327 ft (100 m) of net gas-bearing reservoir.

Offshore staff

HOUSTON –Premier reports that the Kuda Laut-1 well in Tuna PSC (Premier, operator, 65%) offshore Indonesia has discovered 183 ft (56 m) of net oil-bearing reservoir and 327 ft (100 m) of net gas-bearing reservoir.

Following completion of evaluation, the well will be side-tracked to drill the Singa Laut prospect in the adjacent fault block. The results of this side track are expected in late May and will be incorporated with the results from Kuda Laut to assess the extent of discovered resources.

Separately, drilling continues at the Ratu Gajah-1 exploration well in the Natuna Sea block A PSC (Premier operator, 28.67%) with results also expected in May.

As previously announced by the operator of the C-10 license (Premier, 6.23% interest), offshoreMauritania, the Tapendar-1 exploration well has been plugged and abandoned as a dry hole.

04/29/2014

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