Premier Oil PLC Discovery at Zebedee, Falkland Islands (2793J)
April 02 2015 - 1:00AM
UK Regulatory
TIDMPMO
RNS Number : 2793J
Premier Oil PLC
02 April 2015
PREMIER OIL PLC
("Premier")
Exploration drilling update - Oil and gas discovery at Zebedee,
Falkland Islands
2 April 2015
Premier is pleased to announce that the Zebedee well (14/15b-5)
in PL004b (Premier 36 per cent equity) discovered 81 feet of net
oil-bearing reservoir and 55 feet of net gas-bearing reservoir.
The well penetrated multiple targets in the Cretaceous F2 and F3
formations with a total hydrocarbon net pay of 136 feet. The pay is
primarily located within two F2 sands:
-- The Hector sand, which contains 55 feet of net gas pay.
-- The Zebedee sand, which contains 79 feet of net oil pay. No
oil-water contact was observed in Zebedee.
The reservoir at both the Hector and Zebedee intervals is of
good quality and the above results are in line with prognosis. Good
oil shows were recorded at the deeper F3 targets but at this
location the sands are not well developed.
The well will now be plugged and abandoned as a successful
exploration well. The Eirik Raude rig will then drill the first
exploration test of the Elaine/Isobel fan complex in the southern
part of the North Falkland Basin with the Isobel Deep well. The
results of this well are expected in late April.
Andrew Lodge, Exploration Director commented:
"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."
Enquiries
Premier Oil plc Tel: 020 7730 1111
Andrew Lodge, Exploration
Director
Tony Durrant, CEO
Bell Pottinger Tel: 0203 772 2550
Gavin Davis
Henry Lerwill
This information is provided by RNS
The company news service from the London Stock Exchange
END
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