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PremierOil plc

Published : August 05th, 2016

Bagpuss well result

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Bagpuss well result

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05 Aug 2016

The 13/25-1 well, which was targeting the Bagpuss prospect, on the Halibut Horst in the Outer Moray Firth, has reached a total depth of 1,532 feet (TVDSS) in granite basement.

The well encountered 41 feet of hydrocarbon-bearing sands within a 68 feet hydrocarbon column. This is in line with pre-drill estimates. The sands have between 25 per cent and 33 per cent porosity and indications are that the oil is heavy. The well is now being plugged and abandoned.

Robin Allan, Director of Exploration and North Sea, commented:

'The Bagpuss well has proven a significant volume of oil in place. We will now work with our partners to carry out a full analysis of the hydrocarbons and reservoir encountered to ascertain whether commerciality can be established.'

Enquiries

Premier Oil plc
Tony Durrant, Chief Executive
Robin Allan, Director of Exploration & North Sea
Tel: 020 7730 1111

Bell Pottinger
Gavin Davis
Henry Lerwill
Tel: 020 3772 2570

Read the rest of the article at www.publicnow.com

PremierOil plc

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PremierOil is a producing and oil company based in United kingdom.

PremierOil is listed in United Kingdom. Its market capitalisation is GBX 48.1 billions as of today (US$ 57.1 billions, € 51.4 billions).

Its stock quote reached its highest recent level on June 02, 2006 at GBX 999.00, and its lowest recent point on December 06, 2019 at GBX 94.12.

PremierOil has 510 820 000 shares outstanding.

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8/5/2016Bagpuss well result
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