Falkland Oil and Gas 1st Half Pretax Loss $3.1 Million Vs Loss $2.2 Million
28 September 2009 - 6:44PM
Dow Jones News
Falkland Oil and Gas Ltd (FOGL.LN), an oil and gas exploration
company focused on its extensive licence areas to the South and
East of the Falkland Islands, said Monday for the six months ended
June 30 its pretax loss widened to $3.1 million from $2.2 million a
year earlier.
MAIN FACTS:
-No revenue reported.
-Basic and diluted loss per share 3.24c (2008 loss/shr:
0.69c)
-Environmental impact assessments to be submitted for approval
by early Oct.
-Successful share placing to raise GBP7.6 millionillion ($12.2
millionillion) before expenses to fund long lead drilling
equipment, administration and general costs through 2010 and into
2011.
-Cash balance of $19.3 million as at June 30 (2008: $22.6
millionillion).
-Partner, BHP Billiton (BLT.LN) continues to seek suitable
drilling rig for programme scheduled for 2010, in line with
previous guidance.
-Well placed to move into next phase of exploration, with
necessary preparatory work completed and funds available to secure
long lead drilling equipment.
-By London Bureau, Dow Jones Newswires; Contact Ian Walker; +44 (0)20 7842 9296; ian.walker@dowjones.com
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