The well proved the presence of Upper Jurassic sandstones but with only a trace of hydrocarbons. It has been plugged and abandoned.
A further prospect, structurally rather than stratigraphically defined, will now be evaluated.
Charles Jamieson, Chief Executive of Premier, said:
'This well was always high risk high reward but unfortunately not all of the factors for success were present in this case. However, finding Upper Jurassic sandstones will improve the chances of another prospect on the license should the joint venture decide to drill a second well.
We are pressing ahead with the rest of our 18 well program in 2004 - this was the first well of that program to complete.'
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