Premier Oil Offered Participation in Five Norwegian Blocks

Premier Oil's subsidiary, Premier Oil Norge AS has been offered participation in five Norwegian production licenses in the recently announced APA 2005 bidding round.

The awards underline Premier's commitment to build a successful business in Norway.

The new licences are located in the Norwegian North Sea. Further details, on the blocks and the forward program, will be provided in the operational and trading update in January 2006.

The licence awards are as follows:

PL374S (blocks 34/2 and 34/5) (Premier 15%)
PL375 (blocks 34/4 and 34/5) (Premier 30%)
PL364 (blocks 25/2,3,5 and 6) (Premier 50%)
PL359 (blocks 16/1 and 16/4) (Premier 30%)
PL378 (blocks 35/12 and 36/10) (Premier 40%)
All block names refer to part blocks

Simon Lockett, Chief Executive, commented:

'We are delighted by today's awards. It is further evidence of Premier's determination to build a material business in the Norwegian Continental Shelf, based on our existing North Sea expertise. Today's announcement is another important step in delivering our new business strategy and we look forward to working with our new partners in these exciting areas. '
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