Falk IS. Hldgs Share Discussion Threads

[togglebrush] 02/5/2013 08:24

2 May 2013
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Falkland Oil and Gas Limited
("FOGL" or "the Company")
Final Results for the year ended 31 December 2012
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Extract

Richard Liddell, Chairman of FOGL, said:
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"In 2012 FOGL made great progress towards its objective of making commercial discoveries within our licences. As operator two deep-water exploration wells were drilled, safely, within budget and on schedule. Both wells significantly de-risked the East Falkland basin and, in the case of Loligo, demonstrated significant in-place gas volumes within multiple reservoirs. Post well drilling analysis indicates that significant potential for oil discoveries still exists within our licences.
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Major farm-out agreements were secured with two substantial international E&P companies with strong exploration track records. At the same time FOGL retained a very substantial interest in its extensive acreage.
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FOGL is fully funded for an extensive 3D seismic survey covering some 10,000sq km and a three well exploration programme.
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With our partners, we have an ambitious work programme designed to further de-risk our prospect inventory and in particular, focus on the oil potential within our licence areas. This will lead to the identification of new targets and further exploration drilling in 2014/15
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To date we have acquired 35,000km of 2D seismic, drilled three wells, and as a result proved a working petroleum system. Now with our new partners we are funded to shoot over 10,000sq km of 3D seismic and drill three further exploration wells. We remain optimistic about the potential of our licences"

[ifthecapfits] 26/4/2013 15:34

Selftrade not giving a price - hmmm.

[ifthecapfits] 24/4/2013 09:30

Like that article and confirms why I am invested here. THe picks & shovels of the FI and in an enviable position WRT current opperations which will give them a head start on others.

[ifthecapfits] 19/4/2013 12:58

TIme for the next lunatic to take the reigns

[ifthecapfits] 28/3/2013 11:14

Looking at the flat line on the chart above you would think we were suspended!