Premier Oil

Premier Oil recently redrilled its Isobel Deep well (No. 14/20-2) in the North Falkland Basin and confirmed the oil discovery made at the well last May. New hydrocarbons were also found, the company reported. Situated on license PL004A, the redrilled well reached its 9,890-ft target depth and found oil-bearing zones in several sandstone reservoirs between 8,400 ft and 9,385 ft. The lower depth is the base of the Isobel Deep sand. Operator Premier has a 36% interest in the license, with the remaining interest held by Rockhopper Exploration (24%) and Falkland Oil and Gas (40%).