a couple of comments from premier

Premier Oil's Interim Management Statement released today (19th May) contains a couple of interesting comments. They don't reveal too much but......

First comment ranks first in the list of highlights and indicates:
" Of the seven exploration and appraisal wells drilled year to date, five have successfully found hydrocarbons, including the important Burgman and C? Rong ?o discoveries"

Now are we to assume that the word "important" applies to both Burgman and also Ca Rong Do. Or does the word "important" apply just to the Burgman discovery.

In my opinion I think it is the former. That Premier regards both of the discoveries as "important"
For Premier to indicate that I think is an important admission at this stage about Ca Rong Do.

Second comment is just about the programme looking ahead.
"Vietnam
The Jackfruit prospect on block 104-109/05 is planned to be drilled in the second half of 2011. The C? Rong ?o 2x well results announced last month are being evaluated to assess the requirement for further appraisal drilling in 2012"
So it looks like that we won't see any action back at the Ca Rong Do prospect until 2012 all going well.

The main interest now will be on when Premier announces the result of its assessment. Could be a few months before that happens.
But the important thing is that they consider Ca Rong Do as an important discovery