Premier Oil Encounters Water-bearing Sandstone in Sparrow Well

Premier Oil Plc's Sparrow well on Block 23/22b has been drilled to a total depth of 10,598 feet. The well encountered Palaeocene sandstones but they were water-bearing at this location. Premier was carried through the costs of drilling Sparrow through a farm-down of its interest.

The rig will now drill the Moth prospect in Block 23/21 in which Premier does not hold an interest. This well may de-risk further potential on Block 23/22b at the Jurassic level.

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