RNS Number:5263L
Premier Oil PLC
23 May 2003




                  DEALINGS BY SUBSTANTIAL SHAREHOLDERS


1)   NAME OF COMPANY

     PREMIER OIL PLC

2)   NAME OF SHAREHOLDER HAVING A MAJOR INTEREST

     LANSDOWNE PARTNERS LIMITED PARTNERSHIP

3)   Please state whether notification indicates that it is in respect of 
     holding of the Shareholder named in 2 above or in respect of a 
     non-beneficial interest or in the case of an individual holder if it is a
     holding of that person's spouse or children under the age of 18

      2 ABOVE

4)   Name of the registered holder(s) and, if more than one holder, the 
     number of shares held by each of them.

      SEE BELOW

5)   Number of shares/amount of stock acquired.

      49,480,314

6)   (3.14%) of issued Class

7)   Number of shares/amount of stock disposed

      N/A

8)   ( N/A %) of issued Class

9)   Class of security

      ORDINARY

10)  Date of transaction

      UNKNOWN

11)  Date company informed

      23.05.03

12)  Total holding following this notification

      49,480,314
               
13)  Total percentage holding of issued class following this notification

      3.14%

14)  Any additional information



15)  Name of contact and telephone number for queries

      LISA PARSONS
      020 7730 1111

16)  Name and signature of authorised company official responsible for 
     making this notification    MR S C HUDDLE - COMPANY SECRETARY

     Date of Notification ...23 MAY 2003......


Letter to Premier Oil Plc

I am writing to advise you that as a result of a purchase of shares, Lansdowne
Partners Limited Partnership, on behalf of client funds that it manages, now
controls 49,480,314 shares of Premier Oil Plc (sedol number 0699420), this 
reperesents 3.2% of the shares in issue.


Letter from:  Stuart Roden  
Lansdowne Partners Limited Partnership


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