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Last $0.44 USD
Change Today +0.044 / 11.00%
Volume 250.0
FLKOF On Other Exchanges
As of 8:10 PM 04/17/15 All times are local (Market data is delayed by at least 15 minutes).

falkland oil & gas ltd (FLKOF) Snapshot

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02/24/15 - $0.60
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12/17/14 - $0.28
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falkland oil & gas ltd (FLKOF) Details

Falkland Oil and Gas Limited explores for offshore oil and gas properties in Falkland Basins. The company operates through two segments, North Basin and South Basin. It holds licenses that cover the north, south, and east Falkland Basins. The company was incorporated in 2004 and is headquartered in London, the United Kingdom.

3 Employees
Last Reported Date: 05/19/14
Founded in 2004

falkland oil & gas ltd (FLKOF) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: 456.0K GBP
Exploration Director and Director
Total Annual Compensation: 402.0K GBP
Compensation as of Fiscal Year 2013.

falkland oil & gas ltd (FLKOF) Key Developments

Argentina's Government Files Lawsuit over Falklands Drilling Against Rockhopper Exploration, Falkland Oil and Gas, Premier Oil, Noble Energy and Edison

Argentina's government has filed a lawsuit in London against the consortium comprises Rockhopper Exploration, Falkland Oil and Gas (FOGL) and Premier Oil, along with Noble Energy and Edison. The firms have been accused of illegally targeting hydrocarbon resources located on the Argentine continental shelf. Two wells have already been spudded Zebedee in March and Isobel Deep in April 2015 as part of the six-well campaign, which Premier said has the potential to more than double the discovered resource in the North Falklands basin.

Falkland Oil and Gas Ltd. Announces Successful Results of the 14/15b-5 'Zebedee' Exploration Well

Falkland Oil and Gas Limited announced the successful results of the 14/15b-5 'Zebedee' exploration well. The well, which is located on licenc3e PL004b (FOGL 40% interest), discovered 27.5 metres of net oil-bearing reservoir and 17.5 metres of net gas-bearing reservoir. The well penetrated multiple targets in the Cretaceous F2 and F3 formations with a total net pay of 45 metres. The pay is primarily located within two F2 sands: The Hector sand, which contains 17.5 metres of net gas pay. The Zebedee sand, which contains 25.0 metres of net oil pay. No oil-water contact was observed in the Zebedee reservoir. The reservoir in both the Hector and Zebedee intervals is of good quality and the results are better than FOGL's pre-drill expectations. Oil was also encountered in a 5 metre sand (2.5 metres of net oil pay), lying below Hector which may be a southern extension of the Beverley sand encountered in the 14/15b-4 well. In addition, a 3 metre sand lying below the Zebedee sand, containing good oil shows, is thought to be the southerly extension of the Sea Lion Main sand. Pressure measurements taken in the Zebedee interval plot on the same gradient as those observed in the oil leg of the Sea Lion field. It is likely therefore, that Zebedee reservoir is in pressure communication with, and has the same oil-water contact as Sea Lion. FOGL is encouraged by the positive results of the well. The Zebedee reservoir is better developed than anticipated in FOGL's reservoir models and this will positively impact resource estimates. The Hector reservoir, which has not been drilled previously, has been proven to have very good properties. In addition to the gas discovered in Hector in the well, the flank of the Hector reservoir may have potential for additional oil resources. FOGL will now evaluate these results and their positive impact on potential hydrocarbon resources. The well will now be plugged and abandoned as a successful exploration well. The Eirik Raude rig will then drill the first exploration test on the Elaine/Isobel fan complex in the southern part of the North Falkland Basin with the Isobel Deep well. The results of this well are expected in late April 2015 and a further announcement will be made upon spudding on the well. Good oil shows were recorded in a number of the deeper F3 targets, but at this location the sands are not well developed.

Falkland Oil and Gas Ltd. Provides Update on 14/15-5 'Zebedee' Exploration Well Spudding

Falkland Oil and Gas Ltd. announced that the 14/15-5 'Zebedee' exploration well was spudded, by Premier Oil as operator, on 6 March 2015. The well is located on licence PL004b, in which FOGL has a 40% working interest and is to be drilled on the Zebedee prospect. The well will test a total of seven stacked fan bodies with varying geological chances of success, ranging between 10% and 50%. The well is targeting mid case unrisked gross prospective resources based on FOGL management estimates of 281mmboe (112mmboe net to FOGL). The well is anticipated to take approximately 30 days to drill and a further release will be issued once logging is completed. The anticipated well cost net to FOGL is c. USD 22 million.


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