Premier Oil PLC Tolmount East success (1971Q)
October 17 2019 - 1:00AM
UK Regulatory
TIDMPMO
RNS Number : 1971Q
Premier Oil PLC
17 October 2019
Premier Oil plc
("Premier")
Tolmount East success
17 October 2019
Premier is pleased to announce the success of the Tolmount East
well, 42/28d-14, in P1330, Block 42/28d (Premier 50 per cent
operated interest) in the UK Southern Gas Basin. The well was
targeting 220 BCF of P50 gross resource, in an undrilled area four
kilometres east of the 500 BCF Tolmount gas field.
The well penetrated 241 feet of gas bearing high quality Leman
sands with a net-to-gross ratio of 71%, porosity of 16% and gas
saturation of 82%. The quality and thickness of reservoir sands
encountered are at the upper end of expectations and no gas water
contact was penetrated. The reservoir section was successfully
cored with 216 feet being recovered. A full Logging-While-Drilling
and wireline acquisition programme was undertaken, including
extensive pressure data and fluid sampling.
The well data will now be integrated with the new 3D seismic
dataset as part of the fast-track development planning for Tolmount
East. This is already well advanced ahead of project sanction
targeted for 2020 2H. The well result is also positive for the
additional potential identified in the Greater Tolmount Area,
including Tolmount Far East and the Mongour discovery.
Tony Durrant, CEO, commented:
"We are delighted by the Tolmount East result, the development
of which will add significant value to our UK portfolio. Elsewhere
in the Greater Tolmount Area, we are making excellent progress with
our sanctioned Tolmount development which remains on schedule for
first gas by the end of next year and will add a net 20,000 to
25,000 boepd to Group production."
Enquiries
Premier Oil plc
Tony Durrant, Chief Executive
Robin Allan, Director North Sea and Exploration
Dean Griffin, Head of Exploration
Tel: 020 7730 1111
Camarco
Billy Clegg
James Crothers
Tel: 020 3757 4983
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END
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