A re-drill of the Isobel target, Isobel (Elaine), 30km south of the Sea Lion field, has confirmed an oil discovery. The well, drilled by Premier Oil, reached total depth at 3014m and encountered oil bearing intervals in a number of sandstone reservoirs.

Robin Allan, Premier exploration director, said, “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.”

The Eirik Raude rig will move to the Chatham location once Isobel (Elaine) has been plugged and abandoned. It will subsequently be handed over to Noble Energy who will drill the Rhea prospect, also in the North Falkland Basin.