more prospect info from premier, page-2

re: more prospect info from premier - read this on ?#*(&$($?? - that wasn't my post .... Try again:

("Premier")
Premier Announces Major Drilling Campaign in Mauritania


Premier is pleased to announce that the Mauritania joint venture partners have now agreed the details of the 2004 exploration and appraisal drilling campaign.

Exploration and appraisal drilling will commence in August 2004 and continue until the commencement of Chinguetti development drilling in the fourth quarter of 2004. Five exploration wells are planned in PSC Areas A and B, with up to four appraisal wells on the Tiof discovery (PSC B).

The exploration programme embraces a wide range of prospects in respect of size and risk. Three prospects are located in PSC B, namely Tevet, Capitaine and Merou. Tevet is a lower risk prospect with potential to be the first satellite tie-back to the Chinguetti 'hub'. Capitaine and Merou both have the potential to be similar in size to Tiof, as does Sotto, which lies in PSC Area A. The Bogue prospect lies primarily in PSC A and extends into PSC B. This prospect is higher risk and is targetting significantly larger reserves. All five prospects have reservoir targets of Miocene age, similar to those that have been successful in Chinguetti, Tiof, and Banda. Other prospects in the PSCs have been identified and may be drilled in place of the above prospects subject to drilling results or ongoing geological studies.

The drilling programme on Chinguetti field will follow on in the fourth quarter of 2004 and will comprise up to six oil production wells, four water injection wells and one gas injection well as part of the phase 1 development (PSC B).

The twenty-well exploration, appraisal, and development drilling campaign will utilise two deep-water drilling rigs, the Stena Tay and West Navigator, which will work in tandem and operate in water depths ranging from 300m to 1700m.

Charles Jamieson, Chief Executive of Premier, said:

"In conjunction with wells also drilling in Gabon, Pakistan, Egypt and Indonesia, we are about to enter the busiest period of drilling activity in Premier's history."


5 July 2004