Business
Re FOGL Announcement
Re FOGL Announcement.
About this update from Geo Exploration Limited
[{"type":"text","content":"\n Global Petroleum Ltd\n13 December 2007\n\n\n13 December 2007\n\n\n FALKLAND OIL & GAS LIMITED ANNOUNCEMENT\n\n\nGlobal Petroleum Limited advise that Falkland Oil & Gas Limited ('FOGL') has\nreleased an Exploration Activity Update. The full announcement appears\nhereunder.\n\n\nMark Savage\nChairman\n\nTelephone: +1505 344 2822\nFax: +1505 344 2922\nEmail: [email protected]\n\n\nFalkland Oil and Gas Limited\n\nExploration Activity Update\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 Highlights\n\n • Encouraging results from the Controlled Source Electromagnetic ('CSEM')\n survey.\n • Positive CSEM anomalies, indicating the possible presence of trapped\n hydrocarbons.\n • Improved definition of our top ranked prospects, as a result of the 2D\n infill seismic survey.\n • FOGL's top ranked prospects have the potential to contain hydrocarbon\n resources in excess of 10 billion barrels oil equivalent (mean, un-risked)\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\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\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 in the 2002 licences and 4735 km in the 2004 licences.\n\nSurvey Results\n\nCSEM\n\nResults from the CSEM survey are encouraging, with 'positive' CSEM anomalies,\nindicating the possible presence of trapped hydrocarbons, being recognised over\na number of our best prospects.\n\nThe most encouraging CSEM anomalies have been identified over the following 7\nprospects: Loligo, Garrodia, Nimrod, Caird, Toroa, Lutra and Undine. These\nprospects also benefit from...