Production up 8 per cent to 35.8 kboepd (2006: 33.0 kboepd)
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Reserves increased by 39 per cent to 212 mmboe. Reserves and resources up 28 per cent to 369 mmboe. Reserve replacement of 460 per cent
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Material progress on major development projects commercialising past exploration successes and adding value to recent acquisitions
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New gas sales agreements in Singapore and Indonesia
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Successful acquisitions adding low cost barrels in UK and Indonesia
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New exploration and appraisal acreage acquired in Norway and Vietnam
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Operating cash flow up 10 per cent to US$269.5 million (2006: US$244.8 million)
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Operating profit up 35 per cent to US$219.4 million (2006: US$162.6 million)
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Low cost financing in place to fund development programme of ~US$1 billion in 2008-2011
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Strong balance sheet with cash resources of US$332.0 million
“Premier is extremely well placed to meet its stated production target of 50,000 boepd by end 2010 from existing assets. Our focus is turning to the next phase of growth through exploration, appraisal and acquisition.”
