Premier Secures Rig for Oates Prospect in UK North Sea

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Premier Oil secured the ENSCO 100 jackup to drill one well on the Oates prospect on Block 22/19c in the UK sector of the North Sea. The rig should be on location in June 2010 and drilling should last for about 30 days. The Oates prospect is located on Block 22/19c in 295 feet (90 meters) of water and was acquired by Serica in the UK 25th Round of Offshore Licensing. In January, Premier Oil reached an agreement with Serica Energy to farm-in to a 50% equity interest and assume operatorship of Block 22/19c.

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