By Steve Goldstein
LONDON (MarketWatch) -- Premier Oil (UK:PMO 1,182, 0.00, 0.00%) said the Catcher East sidetrack well, located in the U.K. Central North Sea, has successfully encountered excellent quality oil bearing sandstones, leading the firm to upgrade its reserves estimate for the block to a range of 50,000 to 80,000 barrels of oil equivalent, up from a previous estimate of 25,000 to 50,000 barrels. Premier has a 35% stake in the license. |
