Island Oil and Gas announces well drilling success

Irish-based exploration company Island Oil and Gas plc says a test on the company's first well in the Celtic Sea has been a success.

The successful test of the well extends the Seven Heads gas field further west, according to the company.

Island now says it will increase its equity interest in the Seven Heads West Sub-Area from 12.5% to 55.75%.

Operation of the well will be taken over by Marathon.