Rockhopper Exploration (LON:RKH) and Falkland Oil & Gas (LON:FOGL) have announced the start of drilling on a well in the Falkland Islands.
The pair said operator Premier Oil (LON:PMO) had spudded the 14/20-2 Isobel 2 well on licence PL004a on November 21.
Rockhopper has a 24% stake in the licence and Falkland Oil & Gas has a 40% holding.
The well is about 2-3 miles away from the 14/20-1 Isobel Deep oil discovery.
The well will target the Isobel Deep reservoir and is a re-drill of the 14/20-1 well drilled earlier this year, which failed to reach Total Depth owing to operational issues.
In addition to Isobel Deep, the well will also penetrate four other areas including Elaine South, Isobel, Doreen and Irene.
The Elaine/Isobel fan complex, based on the operator's estimates, has multiple reservoir targets and gross, mean un-risked resources of 400 million barrels of oil.