Premier Signs Serica Deal

6 January 2010 (Last Updated January 6th, 2010 18:30)

Premier Oil has entered into an agreement with Serica Energy to farm-in to a 50% equity stake and take over operations at the block in the UK's Central North Sea. The Block 22/19c includes the Oates prospect, an amplitude-supported stratigraphic trap that targets the Forties sandsto

Premier Oil has entered into an agreement with Serica Energy to farm-in to a 50% equity stake and take over operations at the block in the UK's Central North Sea.

The Block 22/19c includes the Oates prospect, an amplitude-supported stratigraphic trap that targets the Forties sandstone reservoir and contains 25 million barrels of oil equivalent.

An exploration well will be drilled at the Oates prospect in the second or third quarter of this year, subject to rig confirmation and site survey, according to Premier Oil.