2010 Half Yearly Results Presentation 26 August 2010 - - PowerPoint PPT Presentation

2010 Half Yearly Results Presentation 26 August 2010

26 August 2010 | Page 1

Forward-looking statements

This presentation may contain forward-looking statements and information that both represents management's current expectations or beliefs concerning future events and are subject to known and unknown risks and uncertainties. A number of factors could cause actual results, performance or events to differ materially from those expressed or implied by these forward-looking statements.

26 August 2010 | Page 2

Agenda

Progress against strategy Simon Lockett Financial results Tony Durrant Exploration update Andrew Lodge Operations update Neil Hawkings Summary Simon Lockett

26 August 2010 | Page 3

Gajah Baru Wellhead platform jacket built and in place

Progress towards 75,000 boepd

Chim Sáo Development drilling under way Huntington Field development plan submitted

26 August 2010 | Page 4

Delivering Asian projects to meet growing demand

26 August 2010 | Page 5

Progress on the portfolio of development projects

Bream Evaluating tender responses Dua Concept selection completed Frøy Tender process under way Solan Project sanction by end 2010 Pelikan, Naga Concept selection completed North Sumatra Block A Progress towards PSC extension

26 August 2010 | Page 6

Progress towards 200mmboe of discoveries

Catcher Main and Catcher East 60-100mmboe (gross) Blåbaer 15-75mmbo (gross) Catcher Exploration >150 mmboe (gross) potential remaining

26 August 2010 | Page 7

Progress on acquisition / new ventures

West Orkney Basin, Solan & 15/26c South Darag

26 August 2010 | Page 8

Half yearly financial results

26 August 2010 | Page 9

Production and pricing

Working Interest Production (kboepd) Entitlement Interest Production (kboepd) Realised oil price ($/bbl) Realised gas price ($/mcf) 6 months to 30 Jun 2009 6 months to 30 Jun 2010 39.7 37.0 53.0 5.0 46.6 42.6 78.1 5.8 Average gas pricing ($/mcf) H1 2010 H1 2009 Singapore 13.8 8.9 Pakistan 3.3 3.7 Average Brent oil price was $77.3/bbl (H1 2009: $52.0/bbl) Highlights

30 5 10 20 25 Jan 05 15 Jul 05 Jan 06 Jul 06 Jan 07 Jul 07 Jan 08 Jul 08 Jan 09 Jul 09 Jan 10 Jul 10

Commodity price comparison $/mmbtu

Henry Hub West Natuna

Full-year 2010 guidance unchanged at around 44,000 boepd

26 August 2010 | Page 10

Income statement

Sales and other operating revenues Cost of sales Gross profit Excess of fair value over purchase consideration Exploration/New Business General and administration costs Operating profit Financial Items Profit before taxation Taxation Profit/(loss) after tax 6 months to 30 Jun 2009 6 months to 30 Jun 2010 $m 213 (116) 97 6 (25) (7) 71 (52) 19 (46) (27) $m 367 (189) 178

• (46)

(8) 124 (12) 112 (50) 62 Operating costs per barrel ($/bbl) H1 2010 FY 2009 UK $24.7 $23.2 Indonesia $7.1 $10.0 Pakistan $1.6 $1.9 Group $12.9 $12.2 Includes $20.5 million credit from mark to market revaluation of hedges Estimated UK tax allowances/losses of $1.05billion outstanding at 30 June 2010 Prior year comparatives are restated for acquisition fair value adjustments made in the 2009 year-end accounts

26 August 2010 | Page 11

Cash flow

Cash flow from operations Taxation Operating cash flow Capital expenditure (Acquisitions)/disposals Finance charges Pre-licence expenditure Net cash flow 6 months to 30 Jun 2010 $m

H1 2010 H1 2009 Development Exploration

Estimated Capex split ($m)

6 months to 30 Jun 2009 $m

69 42 111 142 70 212 Operating cash flow Capex Asia MEP

Estimated H1 2010 Regional split ($m)

118 14 80 49 29 144 North Sea 212 222

142 (29) 113 (111) (511) (18) (7) (534) 273 (51) 222 (212) 20 (27) (11) (8)

26 August 2010 | Page 12

Net debt and financial strength

6 months to June 2010 $m (316) (8) (12) (336) Movement in net debt Opening net debt Net cash out flow Purchase of shares Closing net debt*

Current outlook

• Cash $449 million, undrawn facilities $404 million
• Forecast 2010 full year spend of $430 million (development) and $170 million (exploration)
• At current prices net debt is expected to peak at around $700 million in mid-2011

* Excludes $65m of cash in escrow for abandonment obligations

At 30 Jun 2010 $m 449 (569) (216) (336) Balance sheet Cash and cash equivalents* Bank borrowings Convertible loan Net debt*

26 August 2010 | Page 13

Exploration update

26 August 2010 | Page 14

Year to date exploration highlights

Exploration and appraisal drilling

• Nine wells drilled, four successful
• Discoveries at Catcher, Catcher East

and Blåbaer

• Net estimated resource additions

>30mmbo New ventures

• New acreage awarded in West Orkney,

UK and South Darag, Egypt

• 11 applications in the UK 26th

Licensing Round

• Farmed into UK Block 15/26c (West

Rochelle)

200 100 50 2010 2011 150 2012 2013 2014 250

Target cumulative risked additions Actual cumulative risked additions

Global exploration: Forecast resource additions (mmboe)

2009

26 August 2010 | Page 15

Exploration – UK – Oates

Oates (P1620)

• Premier 50% equity and operator
• Well plugged and abandoned
• Pre-drill risk was trap integrity
• Post-drill analysis ongoing

– Focus on cause of amplitude response – Lessons learned will be captured and applied – Post drill analysis will be completed within 60 days of P&A

Oates Bowers

Forties Isopach Map Oates NW SE Amplitude Bloom on Far Stacks Oates

26 August 2010 | Page 16

Exploration – UK – Catcher

Catcher (P1430)

• Premier equity 35%
• 30° API oil discovery in high quality sands
• Catcher Main and Catcher East discoveries
• Catcher Main appraised by Catcher SW
• Gross reserve estimate: 60-85-100 mmbo

W Catcher Main Catcher East Varadero Prospect W E

2 Km

Depth Map on Top Reservoir Catcher Main Catcher North Prospect Catcher East

1 Km

Catcher

26 August 2010 | Page 17 26 August 2010 | Page 17

UK 28/9 (P1430)

• Premier equity 35%
• Overall block potential >300 mmbo recoverable
• Low risk, seismic amplitude support
• Three exploration wells are planned Q4 2010

Exploration – UK – 28/9 exploration potential

Catcher East Rapide Cougar Carnaby 65mmbo Bonneville Burgman 45 mmbo Catcher - Main Catcher North Varadero 40 mmbo

Eocene – Tay Amplitudes

Catcher - Main Discovery Carnaby Catcher North Varadero Burgman Catcher East

26 August 2010 | Page 18

Exploration outlook

Firm Wells: Rig Contracted Firm Wells: Rig TBC Contingent Wells Seismic Programme All well timings are subject to revision for

• perational reasons

Unrisked net potential new barrels over next 12 months of 300 mmboe

Anoa Deep Natuna Sea Block A Exploration well Appraisal Bhit/Badhra

Q2

K25, K18ST, K28 Kadanwari Pakistan

Middle East - Pakistan

Benteng Buton Exploration well West Rochelle P1298

2010

Bluebell P1466

Q1

CRD Appraisal

Q4 2011

Catcher P1430 UK Grosbeak Appraisal PL378 Gnatcatcher PL378 Gardrofa PL406 (8/3) Norway

North Sea

Biaawak Besar Belut Laut Gajah Laut Utara Tuna Indonesia Seismic 104/109-05 Seismic 07/03 Vietnam

Q3 Q3

Asia

Ocean General Ocean General Songa Delta Songa Delta

2010 full year expenditure $170million pre-tax

Geowave Voyager Viking II West Callisto West Callisto

Weatherford 812

Transocean Prospect

26 August 2010 | Page 19

Exploration – UK – West Rochelle

West Rochelle (P1298 & P1615)

• Premier equity 50% P1298 (15/26b), 25% P1615 (15/26c)
• Farmed into 15/26c to test western extension of the Rochelle

discovery along the Kopervik pinchout margin

• Potential gross reserves: 15-25-30 mmboe
• Well spudding – end August 2010

Rochelle P1298 (15/26b) P1615 (15/26c) West Rochelle well

West Rochelle West Rochelle S N

Plenus Marl Top Kopervik Base Kopervik Top Chalk Andrew Sst Lista BCU Base Zechstein

26 August 2010 | Page 20 26 August 2010 | Page 20

Exploration – Norway – Grosbeak, Gnatcatcher

Gnatcatcher/Grosbeak (PL378)

• Premier 20% equity (non-operated)
• Successful Grosbeak well completed in July 2009

– Close to nearby infrastructure – Oil in Middle Jurassic sandstones – Estimated reserves 35-80-190 mmboe

• Gnatcatcher resource estimate 31-40-60 mmboe
• Moderate to high risk for oil
• Q4 2010 Gnatcatcher exploration well and Q1 2011

Grosbeak appraisal

Gnatcatcher SW NE

26 August 2010 | Page 21

Appraisal – Vietnam – Block 07/03 – Cá Rồng Đỏ

Cá Rồng Đỏ

• Premier 30% equity, reserves estimate 10-60-80 mmbo

gross resource

• Appraisal well planned for Q1 2011

CRV NW CRD / CRD North East CRD Discovery SE

Anomalies associated with Hydrocarbons Anomalies associated with Hydrocarbons?

Gas above CRD

26 August 2010 | Page 22

Exploration – Vietnam – Block 07/03

2011 exploration well (Block 07/03)

• Premier 30% equity
• Two potential drilling candidates

identified on existing 3D, new 3D dataset available in Q1 2011

• Reserves estimate 10-45-70 mmbo
• Targeting multiple stacked Tertiary

reservoirs; moderate risk for oil

• One exploration well planned for

Q3 2011

26 August 2010 | Page 23

Exploration – Indonesia – Tuna – Belut Laut

Belut Laut (Tuna PSC)

• Premier 65% equity, reserves estimate 40-90-200 mmboe
• Targeting multiple stacked Tertiary reservoirs in fault dependent

closure – prospect is independent of Gajah Laut Utara

• Amplitude supported
• Moderate risk for oil
• Well planned for Q1 2011

PTD

Top Arang Depth C.I.=100 metres

2500m Belut Laut 2 Km

PRIMARY TARGET

SE

SECONDARY TARGET

Belut Laut

PTD 4300m MD (3870m TVD)

NW

26 August 2010 | Page 24

Exploration – Indonesia – Tuna – Gajah Laut Utara

Gajah Laut Utara (Tuna PSC)

• Premier 65% equity, reserves estimate 65-160-350 mmboe
• Targeting multiple stacked Tertiary reservoirs in major fault

dependent closure

• Amplitude supported at crest of trap
• Moderate risk for oil
• Well planned for Q4 2010

Top Arang Depth C.I.=100 metres

2500m 2 Km

PRIMARY TARGET

W E

SECONDARY TARGET PTD

Gajah Laut Utara

PTD 4250m MD (3550m TVD) Gajah Laut Utara

26 August 2010 | Page 25

Exploration – Indonesia – Natuna – Anoa Deep

Anoa Deep (WL-5 extension) (Natuna PSC)

• Premier 28% equity, reserves estimate 47-57-90 bcf
• Targeting Lama Formation reservoirs in faulted structural closures

directly underlying the West Lobe platform on Anoa field. Lama Formation produces oil and gas in nearby Kakap field

• Moderate risk for gas
• Well planned for Q2 2011

Top Lama Top H Top A PTD

Top Lama Depth C.I.=50 feet

5000m 1400 acre Lowest Closing Contour WL5

PRIMARY TARGET

SE

SECONDARY TARGET

Anoa Deep NW

5 Km

26 August 2010 | Page 26

Exploration – Indonesia – Natuna – Biawak Besar

Biawak Besar (Natuna PSC)

• Premier 28% equity, reserves estimate 66-79-92 bcf
• Targeting Arang formation reservoirs in a stratigraphic trap off

structure from the Iguana gas discovery. Seismic attribute analysis and 3D inversion supports presence of gas

• Play opening well – low risk for gas
• Well planned for Q3 2011

PTD

3D Seismic Inversion indicating gas pay

Top Arang Depth C.I.=100 metres

2000m Iguana Discovery Biawak Besar-1

Bison Iguana Biawak Besar

PRIMARY TARGET

500m

SE NW

26 August 2010 | Page 27 North Sea

• UK: Up to four wells planned in greater Catcher

area and a well on West Rochelle

• Norway: Gnatcatcher exploration and Grosbeak

appraisal wells. Gardrofa exploration well planned for Q3 2011 SE Asia

• Vietnam: Block 07/03 - CRD appraisal and an

additional exploration well. Commitment well on Block 104-109/5

• Indonesia: Two Tuna wells and near field

exploration wells in Natuna A. Exploration well on Buton Middle East-Pakistan

• Pakistan: Near field exploration wells

New Ventures

• Actively pursuing new opportunities for 2012-2014

drilling

Exploration – Outlook

18-22 exploration and appraisal wells planned over next 12 months

Firm wells Contingent wells

26 August 2010 | Page 28

Operations update

26 August 2010 | Page 29

Operations highlights

• 2010 production on track
• Gajah Baru 64% complete and

WHP jacket installed

• Chim Sáo 73% complete and

WHP installed

• Good progress on Huntington
• Catcher added to development

portfolio

26 August 2010 | Page 30

Production update

50,000

Production (working interest) (boepd)

30,000 25,000 10,000 5,000 2006 2007 2008 15,000 20,000 35,000

North Sea / W. Africa Middle East-Pakistan Asia

2009 40,000 45,000 H1 2010

• Full year production forecast

around 44,000 boepd

• Singapore gas demand

strong

• Pakistan production strong

and negligible impact from floods

• Burghley field will tie-in to

Balmoral in September reducing operating costs

26 August 2010 | Page 31

Natuna Block A gas sales forecast

450

Block A gas sales forecast

BBtud

400 350

Exploration potential Iguana Naga Gajah Baru Bison Gajah Puteri Pelikan Anoa Export capacity GSA2/3/4 GSA1

300 50 100 200 250

2006

150

2008 2010 2012 2014 2016 2018 2020 2007 2009 2011 2013 2015 2017 2019 2021

Double production over 3 years

Exploration to increase production Extra available export capacity

Block A development schematic

26 August 2010 | Page 32

• Wellhead platform installation is ongoing
• West Callisto rig will start drilling in September
• Central Processing Platform construction well under way
• Overall project 64% complete

Gajah Baru – on schedule for October 2011

Pics of WHP and CPP jackets and topsideses requested by 23rd Aug from Bryce Walker: “No problem Mary. FYI the GB wellhead jacket is due to load out on 8 August so we will definitely have photos of that but the deck is not due to load out until 28 August. Regarding installation, based upon the Castoro Otto finishing up on or ahead of schedule on the Topaz work the jacket installation could be done in late August. Again if that happens we’ll have photos and a

• movie. “

26 August 2010 | Page 33

• WHP jacket and topsides installed
• ENSCO 107 currently drilling

development wells

• Gas export pipeline laid and tie-in

under way

• FPSO mooring and mid-water

arches installed

• FPSO conversion on track
• Premier equity 53.125%

Chim Sáo – on schedule for first oil in July 2011

26 August 2010 | Page 34

Huntington – on schedule for 2012

• Letter of Intent signed with Sevan for provision of Voyageur FPSO
• Field development plan submitted to DECC
• Target date for project sanction 1 October 2010
• Long-lead items being purchased
• Rig bids have been received
• Earliest possible first oil is late 2011

26 August 2010 | Page 35

North Sumatra Block A (Indonesia)

• PSC extension approval process remains ongoing
• Optimisation of development plan has continued
• First gas 2013

Asia developments

Dua

• Internal concept selection complete

Cá Rồng Đỏ

• 2009 discovery
• Development studies will commence after

upcoming appraisal well

26 August 2010 | Page 36

Norway developments

Frøy

• Tenders received for production facilities
• Leading option is a Sevan FPSO

bridge-linked to a wellhead platform

• Impact of nearby exploration wells being assessed

Bream

• Evaluating responses to ITT for production unit

Grosbeak and Blåbær

• 2009/2010 discoveries
• Development studies will commence after

upcoming appraisal and exploration wells

26 August 2010 | Page 37

UK developments

Catcher

• Preliminary studies will commence later this

year leading to concept selection in 2011

• Multiple stand-alone facilities options exist

–Fixed platform –FPSO Solan

• Option to participate in a 45 mmbbls fast track

(2012) development at 40% equity

• Project sanction decision scheduled for year-end

Catcher

Other possible UK developments

• Scott satellites
• Caledonia
• Ptarmigan
• Moth

26 August 2010 | Page 38

A path to 100,000 boepd

120

Production (kboepd net)

40 20 60 80 100

Development capex ($m)

2010 2011 2014 2012 2013 2015

Future Asia developments Future Norway developments Future UK developments Huntington Chim Sáo, Gajah Baru On production

600 200 100 300 400 500 2010 2011 2014 2012 2013 2015

Future Asia developments Future Norway developments Future UK developments Huntington Chim Sáo, Gajah Baru On production

26 August 2010 | Page 39

Summary

26 August 2010 | Page 40

Summary: delivering against strategy

Progress

• Chim Sáo and Gajah Baru on

schedule for 2011, Huntington for 2012.

• Solan, Frøy, Bream, Dua

progressing towards development sanction in 2011.

• Blåbaer and Catcher successes in
• 2010. Active second half drilling

programme.

• Solan option. Value to be found in

financing smaller companies through development and will be pursued.

• Committed investment programme

fully funded; acquisition capacity. Strategy

• Attain 75 kboepd from

existing projects

• Commercialise contingent

resource base

• Add 200 mmboe of

2P reserves from the exploration portfolio

• Make value-adding

acquisitions in three core areas

• Maintain a conservative

balance sheet Target

• Build three quality businesses which deliver 100 kboepd

from 400 mmbbls of reserves

Production by region H1 2010 (kboepd)

15.2 20.1 11.3 46.6

North Sea / West Africa Asia Middle East-Pakistan

Cashflow by region H1 2010 ($million)

49 29 144 222

26 August 2010 | Page 41

Appendix

26 August 2010 | Page 42

HSE performance – a top priority

• Recordable Incident Rate trend is

downwards

• Performance is top quartile in the industry
• Challenge for staff is to sustain this

performance

• TRIF = Lost Time Injury (LTI) + Reduced Work Day Case (RWDC) +

Medical Treatment Case (MTC) frequency per million man-hours

• There was 1 LTI and 0 RWDC incidents in 2008
• There were 2 LTI and 0 RWDC incidents in 2009
• Association of Oil and Gas Producers

Benchmarking Survey, 2009

6

Total recordable injury frequency (TRIF)

5 4 3 2 1 2003 2004 2005 2006 2007 2008 2009

Premier TRIF

12

Total recordable injury rate

Per million hours worked by company with contractors 11 9 10 8 7 6 5 4 3 2 1

Top Quartile

26 August 2010 | Page 43

Strike Line

P1181 Lacewing Prospect

• Equity: Premier 57%
• Reservoir: Triassic
• Reserves range: 21-71-135 mmboe
• Net well cost: $35 million
• Plan to drill Q3/Q4 2011 subject to further peer review

Exploration – UK – Lacewing

Lacewing 23/22b-4 Lacewing

26 August 2010 | Page 44

P1466 Bluebell Prospect (15/24c,15/25f)

• Equity: Premier 100%
• Reservoir: Palaeocene Forties reservoir
• Reserves range: 9 -19 - 31 mmboe
• Net well cost: $12.5 million
• Well spud date: has to be drilled by March 2011
• Valuable tieback opportunity for Brenda/Balmoral – could help

unlock Ptarmigan discovery

Exploration – UK – P1466 Bluebell

Top Forties Depth SS, CI=5 m Top Forties Lambda Rho Extraction Top Forties Lambda Rho Extraction Near Offset Lamda Rho, HC Indicator Bluebell Bluebell

Bluebell Well Location Bluebell Site Survey

Bluebell

26 August 2010 | Page 45 26 August 2010 | Page 45

Exploration – UK – West Orkney Basin

P1577: West Orkney Basin

• Premier 100%
• 1,700 km2 acreage covering West Orkney Basin depo-centres
• Shallow water, low cost environment
• Frontier Rift Basin exploration opportunity
• Target is Pre-rift Devonian system preserved in Mesozoic rifts
• Petroleum system proven - exhumed oil accumulations on Orkney
• Key uncertainty is presence and preservation of traps
• Material unrisked play potential, presently high risk
• Work programme commensurate with risk reduction
• 6 year concession with a drill or drop option
• Purchase 6,000 km of existing 2D data
• Reprocess selected lines
• Go Forward plans
• Firm: Purchase, reprocess and interpret data 2010/2011
• Optional: Acquire 3D seismic data 2012 and Drill 2013
• PhD studentship starting September 2010

A’ A Orkney Islands; Inverted Devonian basins, with Breached oilfields Metamorphic highs; exposed at seabed Half grabens with possible Devonian source and reservoirs and proven Zechstein seal Terraces with probable Devonian source and reservoirs and probable Zechstein seal

West Orkney Basin Structure Top Devonian Orkney Isles

Half grabens with Pre-rift section: Potenential for Devonian source and reservoirs plus Zechstein seal

26 August 2010 | Page 46 26 August 2010 | Page 46

Exploration – Norway – Bream, Gardrofa

Bream (PL406)

• Brent age oil discovered 1971, close to Yme Field
• In 2009,17/12-4 and its sidetracks wells appraised

this discovery, testing 2,516 boepd

• Operated by BG, Premier equity 20%
• Estimated reserves 39-50-63 mmboe
• Plan of development under review

Gardrofa (PL407)

• Premier’s first operated licence in Norway
• Premier equity 40%
• Untested trap flanking a Salt dome feature
• Estimated reserves 15-70-115 mmboe
• Moderate risk for oil
• Well planned for third quarter 2011

9/1-1 Gardrofa Prospect Well Location

Success at Gardrofa will lead to a new core area for Premier in Norway

26 August 2010 | Page 47 26 August 2010 | Page 47

Blåbaer

Blåbaer (PL374)

• Premier 15% equity, operated by BG
• Well 34/5-1 proved 65m of gross oil bearing Cook

Formation

• The 34/5-1 Sidetrack, drilled into a separate fault

block was dry

• The gross resource range remains within the

15mmbo to 75mmbo predicted pre-drill

• A decision on the future delineation of the

discovery is subject to ongoing evaluation

Exploration – Norway – Blåbaer

C.I. 10m

Sidetrack

2 Km 2 Km

26 August 2010 | Page 48

Exploration – Vietnam – Block 104-109/05

2011 Exploration Well (Block 104-109/05)

• Premier 50% equity
• 445km² of 3D acquired Q3 2010
• Potential drilling candidates to be matured on

new 3D

• Reserves estimates to be determined
• Targeting multiple stacked Tertiary reservoirs
• High risk for oil
• 1 Exploration well planned for Q3 2011

Area of acquired 3D coverage

W NE Leads E

Faulted Structures to be imaged by 3D

26 August 2010 | Page 49

Exploration – Indonesia – Buton

meters

‘B’

Buton PSC

• Premier equity 30%
• Japex operator
• Lead B reserve estimates 35-100-300 mmboe
• High risk for oil, in fold belt theme
• Benteng prospect first to be drilled
• Drilling planned Q1 2011

Benteng NW SE

0 5000

26 August 2010 | Page 50 26 August 2010 | Page 50

K28

2010/2011 drilling in Pakistan

SW NE E-Sand

K25 Compartment:

• Premier 15.79% equity
• Reserves estimate

1-2-4 mmboe

• Targeting E-sand reservoir in

step-out compartment north of K-19 producing compartment

• Lateral seal risk on the

northern plunge

• Well spudded on 2nd August

2010

K18 K18ST

K18ST Compartment:

• Premier 15.79% equity
• Reserves estimate

0.5-2-5 mmboe

• Targeting E-sand reservoir in

adjacent step-out compartment east of K-18 depleted compartment

• Moderate fault seal risk

present

• Well planned in Q4 2010

K28 Compartment:

• Premier 15.79% equity
• Reserves estimate

9 mmboe

• Targeting E-sand

reservoir in step-out compartment south of K10 block

• Moderate fault seal risk

present

• Well planned in 2Q 2011

Badhra Area-B Appraisal well:

• Premier 6% equity; Reserves

estimate 22 mmboe

• Targeting Mughalkot reservoir

channel sands

• Moderate to high reservoir

presence and quality risk

• Reprocessing is ongoing to

improve image to mitigate reservoir risk

• Well is contingent upon

reprocessing results

• Well planned in Q2 2011

K25

SW NE E-Sand

K18ST

SW NE E-Sand

Badhra Area-A Badhra Area-B

26 August 2010 | Page 51 www.premier-oil.com

26 August 2010