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falkland oil & gas ltd (FQQ) 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 (FQQ) 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 (FQQ) Key Developments

Falkland Oil and Gas Limited Announces the Operational Update with Respect to its 2015 Drilling Programme

Falkland Oil and Gas Limited announced the operational update with respect to its 2015 drilling programme. The Eirik Raude rig has commenced mobilisation from West Africa to the Falkland Islands for the 2015 drilling programme, which will be operated by Premier Oil and Noble Energy. The drilling programme will commence in March 2015 on the Premier operated, Zebedee well which will test the southern lobe of the Sea Lion field. The Isobel Deep well, also located in the North Falklands Basin will be the second well in the programme. Interpretation of the 3D seismic acquired over FOGL's South Falkland Basin licenses is progressing well, but given the range of new prospects identified, this work is still ongoing and will not be completed until the end of March 2015. This work is now principally aimed at providing a shortlist of possible drilling targets for the second Noble operated well. Good progress has been made and the choice has been narrowed to three potential options, being: Stingray, Scharnhorst North or Starfish. Based on the operators' cost estimates, FOGL is funded for the four agreed wells. FOGL's funding commitment for the fifth well will be dependent on drilling location, FOGL's equity interest in the well and whether it is an exploration or appraisal well. A further update will be provided once the location is finalized.

Falkland Oil and Gas Ltd. Presents at Canaccord Genuity 8th Annual Global Resources Conference, Oct-15-2014

Falkland Oil and Gas Ltd. Presents at Canaccord Genuity 8th Annual Global Resources Conference, Oct-15-2014 . Venue: Palace Hotel, 455 Madison Avenue, New York, New York, United States.

Falkland Oil and Gas Ltd. Reports Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2014

Falkland Oil and Gas Ltd. reported unaudited consolidated earnings results for the six months ended June 30, 2014. For the period, the company reported loss from operations was $2,188,000 against $1,836,000 a year ago. Loss before tax was $1,295,000 against $941,000 a year ago. Loss for the period was $1,295,000 against $941,000 a year ago. Basic and diluted loss per share was 0.24 cents against 0.29 cents a year ago. Net cash flow from operations was $1,546,000 against $1,345,000 a year ago. Exploration & evaluation expenditure were $22,435,000 against $75,873,000 a year ago. Other capital expenditure was $358,000 against $16,000 a year ago.


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