Premier Oil PLC (LON:PMO) said the 22/19c-6 well on on the Oates prospect in the UK Central North Sea encountered no hydrocarbons and will be plugged and abandoned.

It reached target depth of 10,323 feet and encountered the Forties objective as planned but logging has not indicated any hydrocarbons. A full post-drill analysis will be undertaken to assess remaining potential on the block including the Bowers prospect. 

Premier holds a 50 percent operated interest in the 22/19c licence, with Serica Energy (TSX-V:SQZ, LON:SQZ) holding the remainder. Serica pointed out, in a separate statement, that under the farm-in-terms  Premier is paying the Oates drilling costs in full in order to earn the 50 percent interest in the Block 22/19c licence.