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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
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28 May 2015 07:41

Three companies say discover oil north of the Falkland Islands

LONDON, May 28 (Reuters) - Three oil companies said on Thursday they had discovered oil north of the Falklands, setting up potential further confrontation with Argentina which disputes British sovereignty over the islands. Falkland Oil and Gas (FOGL), Premier Oil and Rockhopper said they h

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28 May 2015 07:32

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28 May 2015 06:53

Premier Oil, Falkland Oil And Rockhopper Make Another Oil Discovery

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19 May 2015 09:08

Rockhopper, Falkland Oil & Gas Give Update On Isobel Deep Well

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12 May 2015 10:39

Falkland Oil & Gas Says Drilling Has Restarted On Isobel Deep Well

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12 May 2015 06:22

Falkland Islands oil explorers resume drilling work after repair

LONDON, May 12 (Reuters) - Oil drillers Falkland Oil and Gas and Rockhopper resumed normal drilling work on Monday at the Isobel Deep well in the Falkland Islands following the repair of a blow-out preventer control system, the companies said. The oil explorers had suspended work on the fi

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1 May 2015 08:29

Falkland Islands Holdings Sells 5 Million Falkland Oil & Gas Shares (ALLISS)

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30 Apr 2015 08:09

Falkland Oil & Gas Pretax Loss Narrows In 2014 After Cost Cutting

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30 Apr 2015 06:28

Falkland Oil and Gas says Argentina legal threats are unlawful

LONDON, April 30 (Reuters) - Oil explorer Falkland Oil and Gas (FOGL) said legal threats made by the Argentine government against oil drillers in the Falkland Islands were unlawful. Argentina lodged a domestic lawsuit this month against five companies, including FOGL, exploring for oil in t

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24 Apr 2015 11:45

Falkland oil drillers suspend work after technical problem

LONDON, April 24 (Reuters) - Oil explorers drilling in the waters surrounding the Falkland Islands have suspended work on the first well of their 2015 drilling campaign after a technical problem, two of the companies involved said on Friday. Oil drilling in the area remains controversial du

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24 Apr 2015 11:15

Premier Oil, Falkland Oil, Rockhopper Experience Isobel Well Problems

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17 Apr 2015 17:50

CORRECTED-UPDATE 2-Argentina launches lawsuit against Falklands oil drillers

(Corrects name for Edison Spa, adds comment) By Karolin Schaps LONDON, April 17 (Reuters) - Argentina announced on Friday it had started legal proceedings in one of its own courts against five companies, including three British, who are drilling for oil and gas off the Falkland Island

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17 Apr 2015 09:13

Argentina launches lawsuit against Falkands oil drillers

LONDON, April 17 (Reuters) - Argentina has started legal proceedings against five companies, including three British firms, which are drilling for oil and gas in the disputed Falkland Islands, raising tensions in a diplomatic row over the islands' sovereignty. Argentina's minister for the F

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14 Apr 2015 17:33

Tuesday tips round-up: Aviva, Falkland Oil and Gas

The Tempus column in The Times has labelled new-look Aviva as a 'buy' following the insurer's now-completed takeover of Friends Life, saying that the enlarged group is one of the most high-yielding stocks in the life insurance sector. After each one of the past three chief executive officers at Aviv

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13 Apr 2015 07:51

Falkland Oil & Gas Agrees Drilling Campaign Revision With Partners

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