North Sea East Fyne well yields modest oil

Offshore staff

LONDON – Premier Oil is in the process of P&A’ing its East Fyne appraisal well 21/28a-11 in the UK North Sea.

The well, drilled by the Sedco 704, encountered 11 ft (3.3 m) of gas-bearing sand within the Upper Tay formation and 8 ft (2.4 m) of oil-bearing sand within the Middle Main Tay. However, the thickness of the oil- bearing sand is at the lower end of the pre-drill estimate.

Results from this well will be incorporated into planning for the Greater Fyne Area. The partners should decide whether to commit to a development by mid-year.

Sedco 704 will next drill the Premier-operated Bluebell prospect in license P1466 (block 15/24c) in the UK central North Sea. Results are due in March 2012.

Offshore Indonesia, Premier’s Anoa development well (WL-5x) on Natuna Sea block A was deepened to a TD of 11,012 ft (3,356 m) to investigate the potential of the Lama formation.

The well encountered around 300 ft (91.4 m) of tight, but fractured, Lama formation sandstone. As it was not possible to determine from existing logs whether the fractures contain moveable gas, Premier hopes - subject to partner approval - to test the Lama interval later this month.

Its next exploration well on block A will be at Biawak Besar, due to spud in March.

2/6/2012

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