Premier Oil PLC Award of two blocks in Mexico's Round 1 (1835T)
July 16 2015 - 2:00AM
UK Regulatory
TIDMPMO
RNS Number : 1835T
Premier Oil PLC
16 July 2015
PREMIER OIL PLC
("Premier", "Company" or "Group")
Award of two blocks in Mexico's Round 1
16 July 2015
Premier is pleased to announce that it, together with its joint
venture partners Talos Energy (operator) and Sierra Oil & Gas,
has been awarded Blocks 2 and 7 in Mexico's Round 1 held in Mexico
City on 15 July. The Blocks contain numerous leads in established
and emerging plays, located in the shallow water Sureste Basin, a
proven and prolific hydrocarbon province in the Gulf of Mexico.
Blocks 2 and 7 contain Tertiary clastic plays, typical of the
Salinas sub-basin. The forward plan is to acquire, evaluate and
reprocess 3D seismic data with a view to firming up drilling
locations towards the end of 2016.
Tony Durrant, Chief Executive, commented:
"We are very pleased with the outcome of this round which
provides Premier with a low cost entry point to emerging plays in a
proven oil and gas province."
Notes to editors
The JV comprises Talos Energy (operator, 45 per cent), Sierra
Oil & Gas (45 per cent) and Premier (10 per cent). Premier can
elect to participate in the drilling programme at an equity
interest of up to 25 per cent.
Talos Energy is an independent exploration and production
company focused on acquiring assets in and around the Gulf Coast
and the Gulf of Mexico regions.
Sierra Oil & Gas is an independent Latin American energy
company established to pursue upstream and midstream opportunities
in Mexico.
Click on, or paste the following link into your web browser, to
view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/1835T_1-2015-7-15.pdf
Enquiries
Premier Oil plc Tel: 020 7730 1111
Tony Durrant, Chief Executive
Robin Allan, Director
North Sea & Exploration
Bell Pottinger PR Tel: 020 3772 2570
Gavin Davis
Henry Lerwill
This information is provided by RNS
The company news service from the London Stock Exchange
END
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