ANNE-1X to be Abandoned

As reported in the Pakistan press earlier today, the Anne-1X well is being plugged and abandoned by the operator Shell. The well was drilled in water depths greater than 1,300 meters below sea level to a target depth of around 3,250 meters below sea level and encountered some minor gas shows.

Premier holds a 12.50% working interest in the venture. The other working interest owners are Shell Development & Offshore Pakistan BV (Operator) 25.00% Oil & Gas Development Co Ltd, 30.00%, Pakistan Petroleum Ltd, 20.00%, KUFPEC Pakistan B.V., 12.50%.

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