In response to recent press speculation in India, Premier Oil is providing the following Status Report on the Masimpur-3 well which it is drilling in Assam, India.
To date the well has been drilled to a measured depth of 4002m. At this depth a sandstone formation has been encountered along with good hydrocarbon shows and high formation pressure. The extent and quality of the sandstone, and the nature of the hydrocarbons encountered are as yet unknown. It is thus too early to comment on their significance. The high pressure has caused mechanical difficulties and may lead to the need to sidetrack the well to reach the target depth.
The Company will provide further information as appropriate.