Having conducted a further exploration review, Premier has withdrawn from Block L10A, offshore Kenya. The Company retains its 25 per cent equity in the adjacent Block L10B. Prospect maturation is ongoing and a 'drill or drop' decision will be made by mid-2014.

Simon Lockett, Chief Executive, commented, "Whilst we remain committed to exploration in Kenya, we continue to focus our resources on projects that meet our internal corporate investment metrics and to high grade our exploration portfolio accordingly."

Tags: Premier Oil