Premier Oil reports successful well test
Premier Oil says it is encouraged by a successful well test at its Natuna Sea Block A in the South China Sea.
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".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Shares in Premier were up 0.2% by 8:12am. Over the last 12 months the stock price has fallen 79%.
BS
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Skipton launches a retirement bond with monthly income – is it any good?
The building society has launched a new three-year fixed-rate bond for those aged 66 and over. Can it boost your retirement income?
By Katie Williams Published
-
Pensions: 140,000 pensioners to be hit by surprise tax demand
Tens of thousands of pensioners will be written to over the summer because their pensions have gone above the frozen income tax thresholds
By Chris Newlands Published