Jasmine Oil Production Reaches over 20,000 bopd

Pearl Energy reports that production at the Jasmine oil field in Block B 5/27 in the Gulf of Thailand has reached more than 20,000 barrels of oil per day ("bopd") following the successful start up of the Jasmine B platform.

Output at Platform B, which commenced production on January 22nd at an initial rate of 2,300 bopd, is approximately 12,000 bopd from six development wells. Platform A, which came on stream in June 2005, is averaging approximately 8,200 bopd.

"We are extremely satisfied with the performance of the initial phase of the Jasmine B development. The planning and execution of the construction and drilling programs has been second to none thanks to the expertise of our technical team. Production at Platform A continues to surpass our expectations and we look forward to the installation of Platform C in the coming months," said Chris Gibson-Robinson, PEARL's Chief Operating Officer.

Work also is underway on the design of a water disposal platform, B2, for the Platform B facility as well as a review of the commercial viability of two additional production platforms in and around the Jasmine production area.

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