Business
FOGL - Results of the Toroa e
FOGL - Results of the Toroa e.
About this update from Fih Group Plc
[{"type":"text","content":"\n RNS Number : 1832P Falkland Islands Holdings PLC 12 July 2010 \n \n\n12 July 2010\n \nFalkland Island Holdings plc \n(\"FIH\" or \"the Company\")\nFalkland Oil and Gas Limited - Results of the Toroa exploration well \n \n \nFalkland Islands Holdings Plc ('FIH') the international services Group, which owns essential\nservices businesses focused on transport and logistics notes the announcement today by Falkland\nOil and Gas Limited regarding the Results of the Toroa exploration well.\n \n \nThe text of today's announcement by FOGL is shown below:\n \nFalkland Oil and Gas Limited\n(\"FOGL\" or \"the Company\")\n \nResults of the Toroa exploration well \nFOGL, the oil and gas exploration company focused on its extensive licence areas to the South and East of the Falkland Islands, confirms that the Toroa F61/5-1 exploration well has been drilled to a total depth of 2476 metres and logging operations have now been completed. \nThe well did not encounter any reservoired hydrocarbons and will now be plugged and abandoned. \nFurther detailed evaluation of all data and information gained from this well will now be carried out. An update will be provided once this work has been completed.\nTim Bushell, Chief Executive of FOGL, commented:\n\"Whilst the results of the Toroa well are disappointing, it has to be remembered that this is the first well in a previously undrilled frontier basin. We believe that these results have helped to reduce some of the key risks of the plays in the deepwater areas of our licences. In that respect the well is certainly encouraging for further exploration and we look forward to continuing our exploration programme once a suitable deepwater rig has been secured.\"\nEnquiries:\n\n\n\n\nFalkland Oil and Gas\n\n\n+44 (0) 207 563 1260\n\n\n\n\nTim Bushell, Chief Executive\n\n\n\n\n\n\n\nOriel Securities (Nominated Adviser)\n\n\n+44 (0) 207 710 7600 \n\n\n\n\nDavid Arch / Natalie Fortescue\n\n\n\n\n\n\n\nFinancial Dynamics \n\n\n+44 (0) 207 831 3113\n\n\n\n\nBen Brewerton / Ed Westropp\n\n\n\n\n\n\n\n \n \n \n \nThe results of the Company's technical evaluation have been reviewed, verified and compiled by the Company's geological staff, which includes a qualified person, Colin More BSc., MSc. (Exploration Manag...