Premier Oil reports successful drill test on Luno II

Premier Oil has reported the he successful well test of the Luno II discovery, in which it has a 30 per cent interest.

Premier Oil has reported the he successful well test of the Luno II discovery, in which it has a 30 per cent interest.

The production test achieved an average flow rate of 2,044 barrels of oil per day of good quality crude oil.

Premier said it estimates gross resources across the Luno II structure to be in the range of 75 to 130m barrels of oil equivalent (mmboe) of which approximately 80% are liquids.

An additional 10 to 40 mmboe has been mapped immediately North of the discovery.

Simon Lockett, Chief Executive Officer, said: "We are delighted that this successful test result has confirmed Luno II as a significant discovery."

NR

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