Trading and Operations Update Tony Durrant, CEO 01 October 2018 - PowerPoint PPT Presentation

July 2019 Trading and Operations Update Tony Durrant, CEO 01 October 2018

Highlights 2019 1H highlights Free cash flow generation of $180m during period; continue to forecast full year net debt reduction of over $300m DELIVER  Record first half production of 84.1 kboepd generating $180m of free cash flow  Very high Group operating efficiency; Catcher at 99%  Full year operating costs revised down from $13/boe to $12/boe EXPLOIT  Field life extensions (on-going well interventions, infill drilling, near field additions etc)  BIG-P first gas by year-end; positive development drilling results  Tolmount on track for first gas end 2020; >50% IRR at current gas prices GROW  Tolmount East to spud shortly, targeting an additional 220 BCF (gross)  Significant resource upgrade at Zama to 680-810-970 mmboe  Increased Andaman Sea acreage position; significant area potential July 2019 P1

July 2019 www.premier-oil.com Premier Oil Plc 23 Lower Belgrave Street London SW1W 0NR T: +44 (0)20 7730 1111 E: premier@premier-oil.com