The company discovered 81ft of net oil-bearing reservoir and 55ft of net gas-bearing reservoir at the well, which penetrated multiple targets in the Cretaceous F2 and F3 formations with a total hydrocarbon net pay of 136ft.
The pay is located within two F2 sands which include the Hector sand, which contains 55ft of net gas pay and the Zebedee sand, which contains 79ft of net oil pay.
Premier Oil observed good reservoir quality at both the Hector and Zebedee intervals and the deeper F3 targets recorded good oil shows but the sands are not well developed.
Premier Oil exploration director Andrew Lodge said: "We are delighted to announce the discoveries in the Hector and Zebedee fans, which extend the play fairway further south from Sea Lion and the satellites.
"They will add further resource to future phases of development in the area. We now look forward to the results of the upcoming Isobel Deep well, potentially the highest impact well in this campaign."
Currently, the well is being plugged and abandoned as a successful exploration well.
The Eirik Raude rig will now drill the first exploration test of the Elaine/Isobel fan complex located in the southern part of the North Falkland Basin with the Isobel Deep well, the company said.
Image: Premier Oil makes oil and gas discovery offshore Falkland Islands. Photo: courtesy of suwatpo/Freedigitalphotos.net.
