Premier opens new oil zone off Falkland Islands

• Premier Oil (OTCPK:PMOIF) says it made an oil discovery at the 4/20-1 Isobel Deep well located in the North Falkland Basin off the coast of the Falklands Islands.
• Premier says the Isobel Deep exploration well was drilled to a depth of 8,289 ft. and found oil that appears similar in nature to the crude oil found at the nearby Sea Lion prospect.
• Premier is the field operator with a 36% stake in the project while Falkland Oil & Gas (OTCPK:FLKOF) holds a 40% stake.