Falkland Oil Delays Drilling, May Sell Stock on Well Success
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Falkland Oil & Gas Ltd., a U.K.- based explorer in the South Atlantic, delayed the start of drilling at its Loligo well and may sell stock late 2012 if the well is successful, Chief Executive Officer Tim Bushell said.
The company will probably start drilling the first well at Loligo, southeast of the Falkland Islands, in April instead of the first quarter as it expects to receive the Leiv Eiriksson rig more than a month later than planned, Bushell said today.