Premier hails Matang a success

Premier Oil yesterday hailed its Matang gas discovery in Indonesia as an important find. The firm said the gas discovery on Block A Aceh flowed gas at a rate of 25m standard cubic feet per day. Initial samples showed that the gas contained approximately 15 per cent carbon dioxide. The gross resource estimate for the Matang structure remains in line with the pre-drill estimate of between 100 and 400bn cubic feet. “We are pleased that this successful well test has confirmed Matang as an important discovery coming as it does on the back of exploration successes in the UK and Norway,” said chief executive Simon Lockett.