Premier Oil plugs and abandons Norwegian North Sea well

3rd Sep 2015 10:40

(ShareCast News) - Premier Oil has plugged and abandoned an exploration well in the Norwegian sector of the North Sea.The exploration and production company said the 3/7-10 S exploration well encountered around 110 metres of good reservoir quality Middle Jurassic sands but these were "water wet", meaning the sands contained water rather than oil.The well was drilled to a depth of 3,464 metres, targeting the Myrhauk prospect on the South east flank of the Mandal High in PL 539 and Premier oil had a 40% stake in the project.At 1048 BST, Premier shares were up 1.5% at 100.60p.