Premier Oil Makes Natuna Sea Discovery

Premier Oil has made a gas discovery in Indonesia with its operated Macan Tutul-1 exploration well, in the Natuna Sea Block A licence. The well is located approximately 12 km southeast of the Premier operated Anoa field. In line with our pre-drill targets, the gas is in the Upper and Middle Arang sandstones. Casing is being set before drilling ahead to deeper reservoir objectives, which should be reached by the end of the week. A further update will be provided in due course. Premier is the operator of West Natuna Block A with a 28.67% interest, and the other partners in the block are Kufpec (33.33%), Amerada Hess (23%) and Petronas (15%).

Simon Lockett, Premier's Chief Executive, commented:
'Premier is pleased with the successful result of its first operated well spudded in 2006. The gas discovered by Macan Tutul is close to existing infrastructure and adds to Premier's continually growing gas reserves in West Natuna Block A. Macan Tutul is the first well of an exciting 2006 campaign that will include high impact operated wells in both Vietnam and Guinea Bissau.'

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