Premier Oil In Gas Sales Pact With

[moe@xxxxxxxxxxxxx]

Subject: Premier Oil In Gas Sales Pact With Burma, Thailand

Dow Jones Business News -- March 13, 1997
                                       Premier Oil In Gas Sales Pact With
Burma, Thailand

                                       AP-Dow Jones News Service

                                       LONDON -- The U.K.'s Premier Oil Plc
announced Thursday it has entered into a
                                       gas sales agreement with the
governments of Burma and Thailand to supply gas
                                       from the Yetagun field in Burma to
Thailand.

                                       Under the terms of the agreement
commercial production will begin late 1999 to early
                                       2000 at a minimum initial rate of 200
million cubic feet a day (cf/d) for 15 years,
                                       extendible up to 400 million cf/d
over 25 years.

                                       This agreement follows the signing in
Bangkok of a memorandum of understanding
                                       October 1996 between the Myanmar
Joint Venture partners (which include Premier),
                                       Myanmar Oil and Gas Enterprises and
the Petroleum Authority of Thailand.

                                       Premier's current interest in the
Yetagun field project is 25.75%. However, upon
                                       declaration of commerciality Myanmar
Oil and Gas has the right to a 15% equity in
                                       the project, which would reduce
Premier's net interest to 21.25%. Other participants
                                       in the project are Texaco Exploration
Myanmar, Nippon Oil Exploration Myanmar,
                                       and the Petroleum Authority of
Thailand Exploration and Production Company.