Falkland Oil and Gas Limited Isobel Deep Well Spud (6728J)
09 April 2015 - 4:00PM
UK Regulatory
TIDMFOGL
RNS Number : 6728J
Falkland Oil and Gas Limited
09 April 2015
9 April 2015
Falkland Oil and Gas Limited
("FOGL" or the "Company")
Isobel Deep Well Spud
Falkland Oil and Gas Limited (AIM:FOGL), the oil and gas
exploration company focused on its extensive license areas to the
North, South and East of the Falklands islands, is pleased to
announce that the 14/20-1 'Isobel Deep' exploration well (the
"Well") was spudded, by Premier Oil as operator, on 8 April
2015.
The well is located on licence PL004a, in which FOGL has a 40%
working interest and will primarily target the Isobel Deep
prospect. The well will test the F3 fan systems, which are mapped
as entering the basin from the south east margin and comprise a
sequence of stacked reservoirs. The Isobel/Elaine complex is
estimated to contain mid case un-risked gross prospective
resources, based on the operator's estimates, of 243 mmbbls (97
mmbbls net to FOGL).
The well is anticipated to take approximately 30 days to drill
and no coring or testing is planned for this well. A further
release will be issued once logging is completed. FOGL is carried
through the costs of this well by Premier Oil and Rockhopper
Exploration.
- Ends -
For further information:
Falkland Oil and Gas Limited
Tim Bushell, Chief Executive +44 (0) 20 7563 1260
RBC Capital Markets (Nominated Advisor and Joint Broker)
Matthew Coakes / Daniel Conti +44 (0) 20 7653 4000
Numis Securities Limited (Joint Broker)
John Prior / Ben Stoop / Paul Gillam +44 (0) 20 7260 1000
FTI Consulting
Ed Westropp / George Parker +44 (0) 20 3727 1000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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