Premier Awards New Production Sharing Contract in Vietnam

Premier announced the award of a 50% operating interest in Block 104-109/05 on the western flank of the Song Hong Basin offshore of Northern Vietnam. A joint study between Premier and Petrovietnam has identified numerous leads on Block 104-109/05 in water depths ranging from 20 metres to 60 metres. The PSC carries a firm work commitment of seismic acquisition plus one exploration well. Mitsui Oil Exploration Company (MOECO) has a 50% interest in the Block 104-109/05 Joint Venture. Under a farm in agreement with Premier, MOECO will carry Premier on the first exploration well drilled on Block 104-109/05.