Lean premixed combustion is a state-of-the-art technology to meet the stringent emission norms, especially to reduce the NOx emission. In the present study, we focus on the transition to lean blowout of premixed flames. The main objective of the study is to explore some important measures for prediction of lean blowout as the existing methods are not always suitable in early detection of blowout in case of premixed flames. We further consider different cases through which lean condition can be attained. For such cases, we first discuss the flame dynamics prior to blowout. Among different statistical measures, mean, median, root mean square and coefficient of variance of heat release rate fluctuations are found to be useful in blowout prediction. On the other hand, skewness and excess of kurtosis do not show any predictive quality. We also observe that the flickering frequency defined in a specific manner also shows a significant variation near lean blowout. Further, the mean frequency evaluated using Hilbert transform is found to show indication of LBO well before its occurrence. Therefore, the frequency analysis along with statistical analysis of the heat release rate oscillations is found to be very relevant in the context of blowout prediction and can be applied in the practical combustors.