Premier Drills Duster in Pakistan

Premier has completed the drilling of the Chung-1 well, its fourth and last commitment well on the Dumbar licenses in southwest Pakistan.

The well drilled through the target Pab reservoir and encountered moderate to good quality sands, but was water wet with no hydrocarbons present.

The well has been plugged and abandoned. Premier's share of well costs is estimated to be approximately $1.5 million.

The partners are currently reviewing the remaining potential of the Dumbar licenses.

In 2004, Premier expects to drill up to 18 exploration and appraisal wells. The next wells to be drilled will commence next month in Gabon (Dussafu prospect) and Mauritania (Tevet prospect).