Premier discovers RI gas

Thu, 13 Apr 2000 | Source: DJ

LONDON (Dow Jones): Premier Oil PLC (PMOIY) has discovered gas in Indonesia at Iguana-1, located near the West Natuna gas export facilities.

Premier discovered gas columns in four separate reservoir sands in the Arang formation close to Premier's Pelikan, Gajah Puteri, Bison and recent Naga discoveries, it said.

Meanwhile UK Premier Oil PLC Chief Executive Charles Jamieson said Premier hasn't any plans to pull out of Myanmar despite a request from the UK government to do so as soon as is legally possible.

"It is our obligation to stay to honor our engagement," Jamieson said in a telephone interview.

He said the company had a legal obligation to Myanmar companies and to a Thai company contracted to buy gas from its Yetagun, Myanmar gas project.

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