UK

Premier had only non-operated positions in Kyle, Wytch Farm, Scott/Telford and the Fife Area fields (no longer producing) before acquisition of Oilexco North Sea Limited in 2009 brought operatorship of the Balmoral Area and other licences, and equities in various discoveries and exploration licences, as well as an extensive database to add to Premier's own.

Production

Balmoral Area

• Balmoral, Glamis, Stirling, Brenda, Nicol fields
• 8.6 kboepd net to Premier, H1 2010
• Production via a floating production facility on the Balmoral field
• Oil exported via Brae-Forties link to Cruden Bay

Kyle

• 2.4 kboepd net to Premier, H1 2010
• Drive opex reductions and efficiency improvements
• Identify and progress infill drilling opportunities
• Gas lift to wells project online mid 2007 improved production by 17 per cent

Fife Area

• The fields have been suspended as of 2 May 2008, pending re-development studies
• Premier has retained the right to develop the area with an alternative facility

Scott / Telford

• 4.0 kboepd net to Premier, H2 2009
• Pursuing infill drilling and other upside opportunities

Wytch Farm

• 2.8 kboepd net to Premier, H2 2010
• Facilities simplification and life of field opex reductions being targeted

Shelley

• 1.3 kboepd net to Premier, H1 2010
• Two wells tied back to an FPSO
• Ceased production in July 2010 and will be abandoned

Appraisal/Development

Huntington

• light oil field
• LOI in place for an FPSO, moving towards charter party
• Production start-up expected in 2012

Moth

• HPHT gas-condensate in Upper Jurassic Fulmar sands, and oil and gas in Middle Jurassic Pentland sands
• Additional appraisal drilling planned

Potential Developments

Bugle, Sheryl, Blackhorse, Kildare, Ptarmigan

Exploration

28/9 – Catcher

• 35% non-operated interest
• Catcher discovery estimated at 60-100 mmbo recoverable reserves
• Further prospectivity exists on the block

23/22b – Moth Extension/Corrie

• 25% operated interest
• Moth discovery on 23/21 believed to extend into 23/22b