Falkland Oil and Gas

Printable company profile from OilVoice

Address
Head Office:
32 – 34 Wigmore Street
London,
W1U 2RR
Tel +44 (0) 20 7563 1260
Fax +44 (0) 20 7486 2330
Web http://www.falklandoilandgas.com

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Future Plans

The key exploration objectives for FOGL are to define and prioritise the top prospects for drilling. The analysis of the results of the seismic work carried out has been completed and exploration work is shortly to commence in the Falklands. That analysis continues to support the presence of hydrocarbons in FOGL's licence area and work is now focussed on the best prospects which will generate the targets for drilling in 2008. TRACS International have also recently published an independent technical report indicating that in their opinion FOGL's top 10 prospects have an unrisked resource potential of 10 billion barrels and the risked reserves attributable to FOGL were 863 million barrels. Strategy & Outlook for 2007 • FOGL is continuing to pursue an aggressive exploration programme which could lead to the development of a new petroleum province in the South Atlantic • The work programme is designed to reduce the exploration risk and to identify the best prospects for the future drilling programme • Introduction of suitable farm-in partners • Evaluation of rig options to secure a rig and to commence drilling in 2008

Reserves

In October 2006, TRACS International (TRACS) completed an independent review on FOGL's interests in the East and South Falkland licences. TRACS completed a review of what they believe are the company's top ten prospects as regards potential size and greatest chance of success. Following evaluation of the prospects TRACS reported that FOGL has Unrisked Net Prospective Resources (best estimate) of 10,089 MMbbls based on the portfolio of 10 prospects reviewed.

Who's Who

Richard Liddell
Chairman
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Tim Bushell
Chief Executive Officer
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David Hudd
Non-executive Director (Deputy Chairman)
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Peter Dighton
Commercial Director
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Timothy Jones
Finance Director
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Colin More
Exploration Manager
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Offices

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