Premier Oil Falls Most in a Month After Plugging Well in Vietnam

Premier Oil Plc (PMO), a U.K. explorer with North Sea and Southeast Asian fields, fell the most in a month in London after plugging and abandoning a Vietnam well.

The shares dropped as much as 3.4 percent to 377.2 pence, the biggest decline since July 23. The company drilled the Chim Sao North West appraisal well in Vietnam Block 12W to a depth of 4,235 meters (13,895 feet), London-based Premier said today in a statement. It encountered “only oil shows,” the explorer said.

It slid 1.8 percent to 383.6 pence by 8:40 a.m. in London.

To contact the reporter on this story: Eduard Gismatullin in London at egismatullin@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.