Premier spuds Isobel Deep (Falkland Islands)

Falkland Oil and Gas Limited, the oil and gas exploration company focused on its license areas to the North, South and East of the Falkland Islands, has announced that the 14/20-1 ‘Isobel Deep’ exploration well was spudded, by Premier Oil as operator, on April 8, 2015.

The well is located on licence PL004a, in which FOGL has a 40% working interest and will primarily target the Isobel Deep prospect. The well will test the F3 fan systems, which are mapped as entering the basin from the south east margin and comprise a sequence of stacked reservoirs. The Isobel/Elaine complex is estimated to contain mid case un-risked gross prospective resources, based on the operator’s estimates, of 243 mmbbls (97 mmbbls net to FOGL).

The well is anticipated to take approximately 30 days to drill and no coring or testing is planned for this well. FOGL is carried through the costs of this well by Premier Oil and Rockhopper Exploration.  Rockhopper has a 24% working interest.

Samuel Moody, Rockhopper CEO, commented:

“We are delighted to be spudding the second well of the campaign following the successful Zebedee oil and gas discovery. The Isobel Deep Well is a high risk high impact well which has the potential in the success case to open a new development area.” 

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