Premier Oil says it is encouraged by a successful well test at its Natuna Sea Block A in the South China Sea.
The WL-5 development well was deepened to a total depth of 11,012 feet to investigate the exploration potential of the so called Lama Formation, which ended up flowing gas at the rate of 17m standard cubic feet per day.
Premier's Chief Executive, Simon Lockett, says the test has "opened up deeper potential on this prolific gas block".
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Shares in Premier were up 0.2% by 8:12am. Over the last 12 months the stock price has fallen 79%.
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