Premier Oil to test Lembu Peteng discovery

United Kingdom?s independent oil firm Premier Oil PLC said Wednesday it scheduled to spud an appraisal well for its Lembu Peteng discovery in Natuna Sea Block A in December this year.

Premier said in a statement that it would use the Seadrill-5 rig.

The Lembu-Peteng discovery lies approximately 14 km to the West of the producing KH field. The well tested an oil zone at a stabilized rate of 610 boepd, and two gas zones yielded 8.5 mmscf/d of gas plus 580 boepd of condensate.

Premier also said it had extended the contract with the Seadrill-5 for the 2007 drilling program.

?It is expected that this will comprise a Premier-operated 5 well program with 2 exploration wells likely on Block A and further appraisal wells on the Lembu Trend and on Gajah Puteri,? Premier said, adding that it has options on 2 further rig slots.

Premier operates the Natuna Sea Block A with a 28.67 percent interest. The other partners in the block are Kufpec (33.33 percent), Amerada Hess (23 percent) and Petronas (15 percent). (Robert)