Falkland Explorers Confirm Oil Discovery with Isobel Re-Drill

Oil firms exploring around the Falkland Islands in the South Atlantic reported Monday that the re-drill of the Isobel Deep well (No. 14/20-2) has successfully confirmed an oil discovery made at the well in May 2015.

The well, located on license PL004A in the North Falkland Basin, reached a target depth of 9,890 feet and encountered oil-bearing intervals in a number of sandstone reservoirs between 8,400 feet and 9,385 feet, the latter being the base of the Isobel Deep sand, according to operator Premier Oil (which holds a 36-percent interest in the license).

Although the well was principally designed to re-drill the Isobel Deep sands, it was also able to test other sand bodies within the F3 sand system, Falkland Oil & Gas Limited (a partner in the license) said. The well successfully penetrated five separate fans with the complex, including: Isobel Deep, Elaine South, Emily and Irene. All five of these fan systems were found to be oil bearing and no gas was encountered, with total net pay of 89 feet discovered in the Isobel Deep, Isobel and Emily reservoirs. No oil-water contacts have been encountered in the oil-bearing interval.

FOGL added that, while the data so far acquired is still to be fully evaluated and integrated, its initial view is that the Isobel/Elaine complex is likely to contain commercially viable quantities of recoverable oil.

Premier Oil Exploration Director Robin Allan commented in a company statement:

"The results of this well confirm the success of the Isobel Deep 14/20-1 well announced in May last year. We have encountered a substantial oil-bearing interval, which confirms the potential of this part of the North Falkland basin as a standalone discovery. This successful re-drill of the Isobel Deep oil sand along with the additional discovery of new oil-bearing sandstones, is extremely encouraging for the prospectivity of the area with a proven petroleum system and a number of prospects established."


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