One well watcher said the probe was thought to be “a smallish heavy oil find”, although a Statoil source would not confirm a find had been made, pointing out that the well is still drilling ahead.

If confirmed, Harpoon would be Statoil’s second find in the frontier Flemish Pass basin after Mizzen to the north-west, which holds 100 million to 200 million barrels of recoverable oil equivalent.

Statoil