Business
FOGL Announcement
FOGL Announcement.
About this update from Fih Group Plc
[{"type":"text","content":"\n Falkland Islands Holdings PLC\n13 December 2007\n\n\n\n\nFalkland Islands Holdings plc\n\nFalkland Oil and Gas plc - Exploration Activity Update\n\n\n\nFalkland Islands Holdings plc ('FIH'), an AIM quoted company operating a range\nof businesses in the Falkland Islands and the Portsmouth Harbour Ferry Company\nin the UK, and which also has a 16.2% strategic shareholding in Falkland Oil and\nGas Limited ('FOGL'), notes the announcement issued today by FOGL, the full text\nof which is outlined below.\n\n\n\n 13th December 2007\n\n\n\nEnquiries:\n\n\nFalkland Islands Holdings Tel: 01279 461 630\nDavid Hudd, Chairman Tel: 07771 893 267\nJohn Foster, Managing Director Tel 07710 764 556\n\nDawnay Day (NOMAD)\nDavid Floyd Tel: 020 7509 4570\n\nCollege Hill\nNick Elwes, Paddy Blewer Tel: 020 7457 2020\n\n\n\n\n\nFalkland Oil and Gas Limited\n\nExploration Activity Update\n\n\n\nFalkland Oil and Gas Limited ('FOGL' or the 'Company') is pleased to provide the\nfollowing update on its Falkland Islands exploration programme and in particular\nthe results from the two surveys acquired during 2007:\n\n\n\nHighlights\n\n\n\n• Encouraging results from the Controlled Source Electromagnetic ('CSEM\n') survey.\n\n\n\n• Positive CSEM anomalies, indicating the possible presence of trapped\nhydrocarbons.\n\n\n\n• Improved definition of our top ranked prospects, as a result of the 2D\ninfill seismic survey.\n\n\n\n• FOGL's top ranked prospects have the potential to contain hydrocarbon\nresources in excess of 10 billion barrels oil equivalent (mean, un-risked)\n\n\n\n\n\nCSEM Survey\n\nThe CSEM survey was carried out on behalf of FOGL by Offshore Hydrocarbon\nMapping plc and was completed in August 2007. Over 750 kms of CSEM data were\nacquired along 7 lines, over a total of 12 prospects. This programme exceeded\nthe Company's Licence commitment to the Falkland Islands Government.\n\n\n\nBasic processing is now complete on all lines, and enhanced processing and\ninterpretation, will continue over the next few months. The CSEM data has now\nbeen combined with FOGL's seismic interpretation and images, in order to\nhighlight prospects of interest.\n\n\n\n2D Infill seismic survey\n\nThe FOGL proprietary 2D seismic survey was acquired by Wavefield Inseis AS\nbetween 19 November 2006 and 31 May 2007 and a total of 9,950km were acquired:\n5215 km i...