Exploration & Appraisal Programme

Appraisal graph

Summary of exploration and appraisal activity by country

Asia
Vietnam – Integration of 2009 drilling results from the eastern part of the block and shooting of seismic on the central part of the block are ongoing for Block 07/03 (30% equity) in 2010, ahead of an appraisal well and an exploration well in 2011. Seismic is also being shot over Block 104-109-05 (50% equity), with an exploration well planned for Q3 2011.

Indonesia – Drilling of two wells on the Tuna block will commence in Q4 2010. Premier holds 65% equity in the Tuna block.

A well on Buton is also being planned commencing drilling in Q1 2011. Premier holds 30% interest in Buton.

Premier will drill the near-field prospects Anoa Deep and Biawak Besar on Natuna Sea Block A (28.67% equity) in Q2 and Q3 2011.

North Sea
Norway – The Gnatcatcher prospect is a moderate- to high-risk prospect on the same block as Premier’s 2009 Grosbeak discovery, and will be drilled in Q4. Grosbeak itself will be appraised in Q1 2011. Premier has 20% equity in the block.

The well on Gardrofa in 2011 will be Premier’s first operated well in Norway. This prospect is a moderate risk untested trap flanking a salt dome feature. The block is adjacent to Block 17/12 where 2009 appraisal drilling results on the Bream discovery, with which Gardrofa is on trend, were very encouraging. Additional reserves potentially in Gardrofa could enlarge collective reserves sufficiently for an area development to be viable. Bream is estimated to hold between 39 and 63mmboe of recoverable reserves. Premier holds a 40% share in Block 8/3.

UK – West Rochelle is located across Blocks 15/26b (Premier 50%) and 15/26c (Premier 25%). The well will spud imminently.

Follow up drilling to the Catcher discovery will commence in the fourth quarter. Premier has 35% equity in the licence.

Bluebell is a prospect near Premier’s producing Brenda field. Premier holds 100% equity in Blocks 15/24c and 15/25f containing the prospect.

Middle East and Pakistan
Pakistan – Two near-field exploration wells are being planned for the second half of 2010 on the Kadanwari field. Premier holds 15.79% in Kadanwari.

An appraisal well on the Bhit/Badhra field is planned for Q2 2011 (Premier 6% equity).

Last updated: 26th August 2010