Premier Oil Holdings Ltd.

Premier Oil Holdings Ltd. has retained Stellar Energy Advisors Ltd. to sell its entire portfolio of asset in Gabon. The package includes 18% interest in the Themis permit and 25% interest in the Dussafu permit. Potential total mean reserves are 230 million barrels of oil and the prospect has upside potential of more than 360 million barrels. The buyer will also have the obligation to carry Sterling Energy for 18% of the cost of the Themis Marin-1 well. For more information, contact Spencer Winter, +44 (0) 20 7493 1977.