Contact: Tim Bushell
Phone: +44 (0)20 7563 1260
Fax: +44 (0)20 7486 2330
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Falkland Oil and Gas, survey and hydrocarbon exploration
The Company conducted a 9,450 km 2D seismic survey in the first half of 2005 and identified 130 leads as being potentially capable of trapping hydrocarbons, far in excess of the 8 leads identified at the time of its IPO in October 2004. The programme has indicated a larger and more diverse project than originally anticipated and has identified numerous possible drill targets, with indications that some could potentially be of significant size. FOGL plans to conduct further seismic surveys targeting all the leads but with particular emphasis on the approximately 50 most promising. The aim will be to develop 20 high quality, technically sound and potentially economically viable drilling prospects. The Company then intends to develop a multi-well drilling programme which may be able to begin in 2007.
Falkland Oil and Gas Company Tags: Falkland Oil and Gas London, UK, Falkland, Falkland oil