refer to last few word.. very very interesting...LONDON (Dow...

refer to last few word.. very very interesting...


LONDON (Dow Jones)--Further to the release on Jan. 11, 2005, Premier Oil said
Thursday that evaluation of wireline and drilling data, including downhole
pressure measurements and fluid sampling indicates that Tiof-6 has intersected
oil over a gross interval of at least 123 metres.
Wireline oil samples have been recovered to surface. It is interpreted that no
gas or water leg has been intersected by the well.
The interval comprises several good quality sands of varying thickness. The
well will now be cased and temporarily suspended, allowing the West Navigator
rig to conduct Chinguetti development drilling, before returning to flow test
Tiof-6.
The Tiof-6 well is the 4th appraisal well following the two discovery wells
completed in late 2003. The appraisal programme is proceeding on prognosis and
the joint venture is planning to complete the test of the 4th appraisal well
before refining development plans.
The Chinguetti field, 25km to the south of the Tiof field, was given
development approval in May 2004 and is on schedule for first production in
early 2006 at approximately 75,000 barrels of oil per day (bopd), 6,000 bopd to
Premier. Development drilling is currently underway. The Tevet-1 discovery well
drilled in October 2004 is located within tie-back distance to the Chinguetti
field.
The West Navigator and Stena Tay drilling rigs will remain on location
offshore Mauritania throughout the greater part of 2005, and will be drilling
exploration and appraisal wells in addition to Chinguetti, and possibly Tiof,
development wells.