This is even better.........

Australia's Woodside finds indications of more oil off Mauritania coast
AFX


SYDNEY (AFX) - Woodside Petroleum Ltd said drilling at its Tevet-1 exploration well off the coast of Mauritania in West Africa have shown signs of oil and gas.

The company, about 34 pct owned by Shell, said wireline logs run from the Stena Tay rig drilling Tevet-1 indicated the presence of oil and gas bearing zones.

It said logging and evaluation, including pressure and sample collection, is continuing and results will be reported once that program is completed and evaluated.

Located about 10 kms northeast of the Woodside operated Chinguetti oil project now being developed, Tevit is the first exploration well in a current 100 usd exploration program off the Mauritanian coast which is targeting 1.3 mln barrels of oil in six new prospects.

Woodside owns 53.846 pct of Tevet-1 and is the operator. Australian listed Hardman Resources Ltd has 21.6 pct, Roc Oil, also listed in Australia, has 3.693 pct, BG Group Plc of the UK has 11.63 pct and the UK's Premier group of companies have 9.231 pct.

Woodside also reported the drill ship West Navigator, has run wireline logs indicating the presence of oil at the Tiof-3 appraisal well within the target zone.

The exploration and production company has said the Tiof field has the potential to be as big as the Chinguetti oil project which has gross reserves of 120 mln barrels of oil.

Blue skies, shining on me.
Nothing but Blue Skies...........

The diary shows a trading statement was due for release today.Have I missed something? I've only seen drilling reports.Will we have more good news tomorrow?

sandrew64,

I was only expecting a rilling report, haven't seen a mention of a trading statement.

The drilling is where the excitment is, with a high oil price I would expect any trading statement to be positive personally.

Looks like it's up today so I will still hold.

;-)

Looks like it's up today so I will still hold.

;-)

New highs today. Looks like the rocketing Brent Crude is pushing the price up.

Share Whisper: HARDMAN RESOURCES rose yesterday as speculators bet on more good news from its offshore Mauritanian sites in West Africa)

That'll be why!

Anyone know a reason for the large sells today? Not doing the sp any favours.

Look to buy, I am around 90p or less!

The volumes are low, maybe MM antics. me thinks

Morning all.

SWW,

well not a good one, that's for sure!

Price down 3p already, does anyone wknow if there's any bad news out there, or is this just being walked down on no news?

Interestingly, most oil related stocks are having down days, even the FOGL float hasn't soared like many of us thought.

Rumour was yesterday that dorade was dry.

That was expected, but when PRE had a dry one at High Island A68 the price dropped by 5% then came back to previous levels.

Doarde was expected to be dry, and was identified as high risk before the drilling started so why the market should be surprised if that is so defeats me.

Never mind, 16 more drills to go and this is the only one so far.

Corner turned here in my opinion.

SWW,

Hope so!

It would probably have been better to drill one of the better prospects first, before the high risk one, but I guess their plan doesn't take into account short temr fluctuations on the LSE or ASX!

Andy - I was concered when I saw the drilling schedule as I thought it may dip the prices at the wrong end of the campaign, but then brigther and better minds worked on this before I ever saw it.

I suppose we must accept the judgement to do the risky one first as being the better deal.

'Course if you are holding till either the end of the campaign, or the evalutiuon period or the production phase, little things like this don't really matter.

I must admit to profit sweeping when it hit 97p, and buying back in on the cheap this morning, but I really do not anticipate doing that too often with this stock.

Should have said what appears on the cheap this morning!

;-)

Do you know on my watch list, these and SEY are the only blues today!

Amazing.

I'm doing a bit better, 6 blues, 2 reds, and a few greens!

PMO stock aqisition can only be good news for SEY

Premier Oil PLC
15 October 2004


SCHEDULE 11 15th October, 2004



NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS


1. Name of company : PREMIER OIL PLC


2. Name of director : MR J A VAN DER WELLE


3. Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a non-beneficial
interest or in the case of an individual holder if it is a holding of that
person's spouse or children under the age of 18 or in respect of a
non-beneficial interest : 2. ABOVE


4. Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them (if notified) : 2. ABOVE


5. Please state whether notification relates to a person(s) connected with
the director named in 2 above and identify the connected person(s) : N/A


6. Please state the nature of the transaction. For PEP transactions please
indicate whether general/single co or PEP and if discresionary/non discretionary
: EXERCISE OF SAYE SHARE OPTIONS


7. No. of shares/amount of stock aquired : 277,272