Premier to sell RI project

Premier to sell RI project

LONDON (Dow Jones): Premier Oil PLC of the UK is planning a
US$200 million refinancing with the sale of a half share in its
West Natuna gas project in Indonesia, according to the UK's Times
newspaper.

The stake in West Natuna represents some 500 billion cubic
feet of gas, but key to the deal will be the prospect of reducing
Premier's huge financial commitment to the project by about
US$100 million over the next few years, the paper said.

No one from Premier Oil was immediately available for comment.