30 Jun 2015 11:38
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Don't have an account? Click here to register.Falkland Oil and Gas finds drilling partner
Tue, 20th Mar 2012 08:54
Falkland Oil and Gas (FOGL) has signed an option agreement which could help pay for a quarter of its drilling programme during 2012. The farm-out, with an unnamed third party, would also pay £17m towards the £68m costs incurred during 2011 in preparation for drilling.An initial fee of $6m has been paid to secure the agreement but, disconcertingly, FOGL says: "For corporate reasons unconnected with the proposed farm-out, the counter-party is unable to execute the option at this time, but expects to be able to do so within the next two months."Falkland Oil and Gas has licences to the south and east of the disputed territory in the South Atlantic where another firm, Rockhopper, made significant discoveries in 2010, leading to increased tension between the UK and Argentina.Tim Bushell, Chief Executive of FOGL, said: "We are delighted to have agreed favourable farm-out terms...This provides further external industry confirmation of the technical case and gives us greater flexibility with respect to our drilling plans."Shares in Falkland Oil and Gas had risen 6.2% by 08:48.BS
More News
29 Jun 2015 21:22
UPDATE 2-UK slams Argentine plan to seize Falklands oil driller assets
(Adds quotes from British foreign office minister) By Andrew Osborn and William James LONDON, June 29 (Reuters) - Britain on Monday accused Argentina of a politically motivated and illegal attack on the nascent oil industry around the disputed Falkland Islands, after Buenos Aires said
Read more28 Jun 2015 19:29
Argentina will pursue judge order on Falklands drillers- minister
BUENOS AIRES, June 28 (Reuters) - Argentina will pursue in Britain and the United States a local judge's order to seize assets of oil drillers operating in the disputed Falklands Islands, the foreign minister said in an interview published in local media on Sunday. On Saturday, a federal ju
Read more28 Jun 2015 10:13
Argentine judge orders seizure of assets of companies operating in the Falklands
A judge in Argentina has ordered the seizure of the assets of five oil companies operating in the Falklands Islands, including those owned by Premier Oil, Falkland Oil and Gas and Rockhopper Exploration. The order, which was made by Tierra del Fuego judge Lilian Herraez, also named Noble Energy and
Read more27 Jun 2015 19:49
UPDATE 1-Argentine judge orders seizure of Falklands drillers' assets
(Adds reaction comment) BUENOS AIRES, June 27 (Reuters) - An Argentine judge ordered the seizure of assets of oil drilling companies operating in the disputed Falklands Islands on Saturday, as rhetoric heats up before October elections. Lilian Herraez, a federal judge in Tierra del Fu
Read more27 Jun 2015 16:45
Argentine judge orders seizure of Falklands drillers' assets
BUENOS AIRES, June 27 (Reuters) - An Argentine judge ordered the seizure of assets of oil drilling companies operating in the disputed Falklands Islands on Saturday, as rhetoric heats up before October elections. Lilian Herraez, a federal judge in Tierra del Fuego, ordered the seizure of $1
Read more15 Jun 2015 14:17
Falkland Oil and Gas begins drilling on Humpback well
Falkland Oil and Gas has begun drilling on the Humpback exploration well located on licence PL012, in which the firm has a 52.5% working interest. Humpback is located within a cluster of similar prospects, which have a total combined prospective resource of more than 1bn barrels of oil. The well is
Read more10 Jun 2015 05:30
9 Jun 2015 14:36
9 Jun 2015 05:28
8 Jun 2015 14:56