May 2009
Strategy Strategy Progress Production forecast (kboepd net) • Targeting • On target to deliver production growth 50,000 boepd by 90 to 75,000 bopd by end 2009 with North Sea developments 80 Asian developments end 2013 potential to achieve Existing production 75,000 boepd in 70 • Exploration 2013 programme within 60 disciplined spend • Up to 16 exploration and appraisal wells 50 • Acquisition focus over next 18 months on core areas 40 • Acquisition of – Asia Oilexco North Sea – North Sea 30 – Middle East - Limited, March Pakistan 2009, completed 20 • People, funding and 10 capability in place to execute planned 0 2009 2010 2011 2012 2013 2014 2015 projects May 2009 - Page 2
Reserves & resources 2P Reserves and Contingent Resources (mmboe) 450 Contingent Resources Additions and Revisions 400 Production Reserves 350 300 250 200 150 100 50 0 Premier Production Additions & Premier Oilexco Proforma 2007 Revisions 2008 2008 End 2008 Source: Board estimates May 2009 - Page 3
Share price performance over five years Share price (pence) 2000 1800 1600 1400 1200 1000 800 600 400 200 0 03 May 03 Nov 03 May 03 Nov 03 May 03 Nov 03 May 03 Nov 03 May 03 Nov 03 May 2004 2004 2005 2005 2006 2006 2007 2007 2008 2008 2009 May 2009 - Page 4
Premier’s financial strength Net debt/(cash) ($m) • Net debt post Oilexco acquisition of ~$250m 140 120 • Cash resources and undrawn facilities of 100 ~$500m 80 60 40 20 0 -20 -40 2005 2006 2007 2008 May 2009 - Page 5
Summary • Programme of development projects progressing as planned • Exploration programme underway with focus on Vietnam, Congo and Norway • A focus on integrating successful Oilexco North Sea Limited acquisition May 2009 - Page 6
Resolution 1 Adoption of the Report of Directors, the Auditors’ Report, and the Financial Statements of the Company for the year ended 31 December 2008 For Against Withheld Votes % Votes % Votes 70,494,152 98.53 936,264 1.31 8,707 May 2009 - Page 8
Resolution 2 Approval of the Remuneration Report for the year ended 31 December 2008 For Against Withheld Votes % Votes % Votes 64,666,968 96.16 2,462,347 3.66 4,303,055 May 2009 - Page 9
Resolution 3 Election of Mr A G Lodge as a Director For Against Withheld Votes % Votes % Votes 70,970,687 99.22 446,120 0.62 20,138 May 2009 - Page 10
Resolution 4 Re-election of Sir David John as a Director For Against Withheld Votes % Votes % Votes 70,848,840 99.45 279,158 0.39 311,694 May 2009 - Page 11
Resolution 5 Re-election of Mr J R W Orange as a Director For Against Withheld Votes % Votes % Votes 69,243,936 97.28 1,819,342 2.56 374,742 May 2009 - Page 12
Resolution 6 Re-election of Mr N Hawkings as a Director For Against Withheld Votes % Votes % Votes 70,282,369 98.23 1,143,625 1.60 9,208 May 2009 - Page 13
Resolution 7 Reappointment of Deloitte LLP as auditors For Against Withheld Votes % Votes % Votes 69,321,529 97.10 1,947,583 2.73 166,343 May 2009 - Page 14
Resolution 8 Authority to issue a limited number of shares in the Company per s80 Companies Act 1985 For Against Withheld Votes % Votes % Votes 70,194,050 98.49 940,358 1.32 284,195 May 2009 - Page 15
Resolution 9 Approval of the Premier Oil plc 2009 Long Term Incentive Plan For Against Withheld Votes % Votes % Votes 46,720,309 69.84 20,040,900 29.96 4,657,221 May 2009 - Page 16
Resolution 10 Approval of the Premier Oil plc Savings Related Share Option Scheme 2009 For Against Withheld Votes % Votes % Votes 71,309,590 99.69 81,402 0.11 19,527 May 2009 - Page 17
Resolution 11 Authority to hold general meetings on 14 days’ notice For Against Withheld Votes % Votes % Votes 69,967,833 98.19 1,150,791 1.61 295,065 May 2009 - Page 18
Resolution 12 Authority to allot equity securities for cash per s95 of the Companies Act For Against Withheld Votes % Votes % Votes 70,836,598 99.01 555,025 0.78 15,049 May 2009 - Page 19
Resolution 13 Authority to purchase own shares For Against Withheld Votes % Votes % Votes 70,671,174 98.79 724,734 1.01 14,005 May 2009 - Page 20
May 2009 May 2009 - Page 21 www.premier-oil.com
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