It's just the overall market kicking every stock down. This should do well as long as the dow jones stays above 10,000.
Interesting info
Premier Oil- 17 August - Drilling update – Oates, West Rochelle, Catcher
West Rochelle
Premier has entered into a farm-in agreement with Endeavour International Corporation, 100% equity holder of Block 15/26c, whereby Premier will earn 25% equity in the block by carrying 50% of the costs associated with Block 15/26c’s equity in well 15/26b-1.
The well will spud later this month and will test the West Rochelle prospect which is interpreted to span the boundary between Block 15/26b, in which Premier already holds 50% equity, and Block 15/26c.