The stability of stratified three phase flow (water-oil-gas) was analyzed using two approaches: A straight forward Kelvin-Helmholtz stability analysis on the two interfaces termed here the “exact” approach and a simplified approach. 1 n the “exact” approach the two interfaces (water-oil and oil-gas) are perturbed, while in the simplified approach the perturbed interface is only the upper oil-gas interface. Both approaches include the viscous Kelvin-Helmholtz analysis in which the shear stresses are laken into account and the inviscid K H analysis where the shear stresses are neglected.