7 Apr 2020 07:00
Premier Oil plc
("Premier" or the "Company")
Charlie-1 well result
7 April 2020
As announced by 88 Energy, Premier confirms that the Charlie-1 well in Area A (Premier 60 per cent interest) on the North Slope of Alaska has proved the presence of mobile hydrocarbons in the targeted Torok Formation. The hydrocarbons sampled were gas condensate which is more challenging to commercialise than the light oil the well was targeting. As a result, the Company has made the decision to exit Area A as soon as regulatory approvals have been received.
A copy of 88 Energy's release can be found on their website (www.88energy.com).
Enquiries
Premier Oil plc
Tony Durrant, CEO
Dean Griffin, Head of Exploration
Tel: 020 7824 1116
Camarco
Billy Clegg
James Crothers
Tel: 020 3757 4983
Notes to editors
The partners in Area A are 88 Energy (Operator, 30% interest), Premier (60% interest) and Burgundy LLC (10% interest).