Premier reports that the Capitaine-1A well on PSC B offshore Mauritania has been
drilled to a total depth of 3,130 meters. Initial evaluation of drilling data
indicates that the well has not encountered hydrocarbons. Some good quality
early Miocene age sands have been intersected but are interpreted as water
bearing. The well is currently being wireline logged and evaluation of these
data will be needed before any definitive announcement on fluid type.
Upon completing operations at the Capitaine-1A well, the Stena Tay rig will move
to the Tiof-4 appraisal well location.