Premier Oil Plc announced that it signed three agreements to supply a total of 125 billion British thermal units of gas per day from its Natuna fields in the South China Sea. Premier Oil said the three ´life of field´ contracts are with Singapore´s SembCorp Gas, a unit of SembCorp Industries, PT Pelayanan Listrik Nasional Batam, and PT Universal Batam Energy. Deliveries are expected to commence in 2010.

Premier Oil plc announced that the Sparrow well on Block 23/22b has been drilled to a total depth of 10,598 feet. The well encountered Palaeocene sandstones but they were water-bearing at this location. Premier was carried through the costs of drilling Sparrow through a farm-down of its interest. The rig will now drill the Moth prospect in Block 23/21 in which Premier does not hold an interest. This well may de-risk further potential on Block 23/22b at the Jurassic level.

Premier Oil plc reported earnings results for the full year ended December 31, 2007. For the year, the company reported net profit declined to $39.0 million from $67.6 million last year. Its sales revenues rose to $578.2 million from $402.2 million the year ago benefiting from strong gas demand in both Singapore and Pakistan, while operating profit grew 35% to $219.4 million. Pretax profit fell to $147.0 million from $156.6 million.