Premier Oil's CEO to Retire in June 2005

Charles Jamieson, CEO of Premier Oil, reaches normal retirement age at the end of September 2004. He will continue as CEO until the end of June 2005, when he will retire from Premier.

The Non-Executive Board has conducted a process to choose a successor, looking at both external and internal candidates.

Following this process the Board is delighted to announce that Simon Lockett, currently Director of Operations, will succeed Charles Jamieson on his retirement.

Simon Lockett joined Premier from Shell in 1994. The responsibilities of his current role as Director of Operations encompasses the management of all production and development related activities, HSE and oil sales. He has worked in a variety of other roles for Premier, including Commercial Manager in Indonesia and Country Manager in Albania, and in investor relations and business development.

He joined the Board in 2003 and is aged 40.