BRIEF-Falkland Oil and Gas says oil discovered at Isobel Deep well
May 28 (Reuters) - Falkland Oil And Gas Ltd
* Well 14/20-1 'isobel Deep' oil discovery
* Announce an oil discovery at 14/20-1 "Isobel Deep" well (FOGL 40 pct) that was spudded by Premier Oil
* Believes initial results significantly reduce risk on FOGL's other prospects in adjacent PL005 licence
* Now considering optimal appraisal programme for Elaine/Isobel complex in PL004 Source text for Eikon: Further company coverage:
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