Premier Concludes Testing at Lembu Peteng

Natuna Sea - Block A
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Premier has concluded testing operations on the operated Lembu Peteng-1 well on Natuna Sea Block A.

A test of the oil zone flowed at a stabilized rate of 610 bpd.

A test was previously completed on two of the gas zones, which yielded 8.5 mmscf/d of gas plus 580 bpd of condensate.

The Lembu-Peteng discovery lies approximately 14 km to the West of the producing KH field and there are follow-up prospects on the Lembu trend.

Premier is the operator of Natuna Sea Block A with a 28.67% interest, and the other partners in the block are Kufpec (33.33%), Amerada Hess (23%) and Petronas (15%).

Premier's Chief Executive, Simon Lockett, said:

'Premier is delighted to be able to report its second operated well success of the year. The additional hydrocarbons discovered will add to the portfolio of reserves to be commercialized through the second gas sale into Singapore.

A further four exploration and appraisal wells are planned for the Block A and Kakap area for 2006. The results from Lembu Peteng will facilitate the identification of the exploration and appraisal targets.

Premier's immediate operated exploration focus in the Natuna Sea now moves on to the Dua and Blackbird high impact wells in Vietnam.'

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