Oil and gas has been discovered off the Falkland Islands by a group of British exploration companies.
The discovery could pose questions over the disputed ownership with Argentina.
The London-listed oil explorers found an oil reservoir 25 metres thick and a gas deposit 17.5 thick in an offshore area north of the Falklands Islands, and marks a successful start to a new drilling campaign in the region.
The oil was found in the first of four wells due to be drilled over the next 8 months, and raises the chances of the companies discovering more oil and gas across the prospective sites to the South and East of the Falkland Islands.
The well was drilled on a license area that is part owned by Falkland Oil and Gas (40%), Premier Oil (36%) and Rockhopper Exploration (24%).