TIDMPMO

RNS Number : 8596O

Premier Oil PLC

12 February 2016

PREMIER OIL PLC

("Premier")

Falkland Islands drilling update

12 February 2016

Premier and Noble Energy entered into a contract with Ocean Rig UDW ("Ocean Rig") on 3 June 2014, for the provision of the Eirik Raude drilling unit for an exploration drilling campaign in the Falkland Islands.

Following a number of material operational issues with the Eirik Raude rig during the term of the contract to date, Premier and Noble Energy issued a termination notice to Ocean Rig on 11 February 2016, terminating the contract with immediate effect. As a result, Premier will no longer be drilling the Chatham exploration well during the current campaign. However, we are in discussions with the Falkland Islands Government regarding the possibility of drilling this prospect in the future.

Enquiries

 
 Premier Oil plc             Tel: 020 7730 1111 
  Tony Durrant, CEO 
  Robin Allan, Exploration 
  Director 
 Bell Pottinger              Tel: 0203 772 2500 
  Gavin Davis 
  Henry Lerwill

This information is provided by RNS

The company news service from the London Stock Exchange

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February 12, 2016 02:00 ET (07:00 GMT)

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