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Home | June 2013 Please tell us what you think of this article. Tell a friend Print Friendly

Falklands : Falkland Oil and Gas Ltd AGM and Operational Update
Submitted by Falkland Islands News Network (Juanita Brock) 30.06.2013 (Article Archived on 28.07.2013)

FOGL, has provided an operational update covering the period from 1 January to 24 June 2013 ahead of its Annual General Meeting, taking place at 2:00 pm (BST) today at FTI Consulting, Holborn Gate,

Falkland Oil and Gas Ltd AGM and Operational Update

 

By J. Brock (FINN)

 

FOGL,  has provided an operational update covering the period from 1 January to 24 June 2013 ahead of its Annual General Meeting, taking place at 2:00 pm (BST) today at FTI Consulting, Holborn Gate, 26 Southampton Buildings, London, WC2A 1PB.

 

Highlights 

     In 2013, we have continued our focus on de-risking our assets and the identification of drilling locations through extensive 3D seismic surveys

     Acquired more than 6,000 sq km of 3D seismic data over the Cretaceous-aged Diomedea fan complex, with more extensive coverage than originally planned due to favourable weather conditions

     Acquired c.1,000 sq km of 3D seismic data over the Cretaceous Fault Block area, targeting a number of prospects and leads within the licences lying immediately to the west of the Darwin gas-condensate discovery

     Both surveys were operated by Noble Energy on behalf of the Joint Venture, which includes Edison International Spa and FOGL, and were completed on time and within budget

     The initial fast track data will be available for interpretation in 3Q 2013 and will be used to commence prospect mapping and the selection of well locations.

     A further 3D survey in the Northern Licence Area is planned for 4Q 2013

 

Tim Bushell, Chief Executive, commented:

 

"We have an ambitious and fully funded work programme and the first six months of this year have been hugely productive, with the successful acquisition of two very important 3D seismic surveys.

 

This investment will allow us to take our sub-surface understanding to the next level, and will provide well locations for the forthcoming drilling campaign. The 3D seismic will reduce exploration risk, help us focus on the oil potential within our licences and maximise the chances of delivering value through the drill-bit."

 

The full press release can be found at:

 

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11623062

 

This article is the Property and Copyright of Falkland Islands News Network.

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