Premier Oil Makes Discovery Offshore Guinea Bissau

Premier has completed the Sinapa-2, 2ST well, located offshore Guinea Bissau in West Africa, which is being plugged and abandoned as an oil discovery.

The Sinapa-2 well has gone some way to defining reserves in the Sinapa diaper prospect, however reservoir quality and structuring issues will need to be thoroughly appraised and understood through further seismic and later drilling before any declaration of commerciality can be made. The well was drilled by Diamond Offshore's semisub, Ocean Nomad.

The results of this well have significantly reduced the risks of the salt diaper flank play in Guinea Bissau. Premier's acreage in blocks 2, 4a and 5a includes a number of similar diapir structures that have the same play elements controlling hydrocarbon occurrence. Premier are currently beginning the evaluation of the data from the new well, and anticipate a future program that will include new 3D seismic acquisition followed by exploration and appraisal drilling.

Charles Jamieson, Chief Executive of Premier, said:

'The results of the Sinapa-2 well are encouraging for further exploration of our extensive acreage in Guinea Bissau now that the potential of the salt diaper play has been clearly proven. But it is too early to say whether the well has succeeded in discovering commercial quantities of oil in this particular prospect.'