Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksFOGL.L Share News (FOGL)

  • There is currently no data for FOGL

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

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
5 Jun 2014 05:10

UK AGM, EGM Calendar - Week Ahead

UK AGM, EGM Calendar
Thursday, June 5
Read more
4 Jun 2014 15:29

UK AGM, EGM Calendar - Week Ahead

UK AGM, EGM Calendar
Thursday, June 5
Read more
4 Jun 2014 14:46

UPDATE 2-Falkland oil explorers contract rig for 2015 drilling

(Adds statement from Ocean Rig UDW) LONDON, June 4 (Reuters) - Energy companies active in the Falkland Islands have leased a rig for their 2015 drilling programme, paving the way for oil and gas exploration to continue next year in the region contested by Britain and Argentina. London

Read more
4 Jun 2014 09:05

Premier Oil Signs Rig Contract In Falklands, Reports Indonesia Results

LONDON (Alliance News) - Premier Oil PLC said Wednesday it has signed a rig contract and rig sharing agreement for its Falkland Islands exploration and appraisal campaign, for which it expects to commence in the second quarter of 2015. The rig has been contracted by Premier Oil for the Isob

Read more
4 Jun 2014 07:25

UK MORNING BRIEFING: Tesco Reports Sales Decline Amid Price Cutting

LONDON (Alliance News) - UK shares have opened mostly lower, with small-caps slightly outperforming Wednesday ahead of the Queen's Speech and further European economic data.

Starting the trading day on a negative note, Tesco PLC reported a sharp drop in sales in the

Read more
4 Jun 2014 06:29

Premier Oil secures rig contract for 2015 Falklands drilling

LONDON, June 4 (Reuters) - Oil explorer Premier Oil said it has contracted a rig for its exploration programme in the Falkland Islands where it will drill at least four wells starting in the second quarter of next year. The energy firm also discovered more gas at its Tuna Block offshore In

Read more
30 Apr 2014 12:56

Falkland Oil & Gas Swings To Pretax Loss On Expenses

LONDON (Alliance News) - Falkland Oil & Gas Ltd Wednesday said it swung to a pretax loss in 2013 as increased expenses and a major foreign exchange gain in 2012 hit comparable figures in 2013. The oil and gas exploration company, said it swung to a pretax loss of USD4.0 million from a preta

Read more
24 Feb 2014 12:57

Falkland Oil & Gas Completes Final 3D Seismic Survey Of Northern Licences

LONDON (Alliance News) - Falkland Oil & Gas Ltd Monday said a 3D seismic survey over the Cretaceous Hersilia Fan complex within the company's Northern Area Licences has been completed. The oil and gas exploration company, said a total of 5,747 square kilometres of full fold seismic data has

Read more
31 Jan 2014 14:59

DIRECTOR DEALINGS: Falkland Oil and Gas Executives Acquire Shares

LONDON (Alliance News) - Falkland Oil and Gas Limited PLC Friday said Chief Executive Tim Bushell exercised options over 96,154 shares under the company share plan at an exercise price of 0.002 pence per share Wednesday. Following this transaction, Bushell holds 256,154 shares, which repres

Read more
13 Dec 2013 15:43

Soco International Chairman adds 50,000 shares

Soco International's Non-Executive Chairman, Rui de Sousa, has acquired 50,000 shares in the international oil and gas exploration and production company. The shares were purchased at 384.97p each for a total spend of £192,485. In its interim management statement last month the group said it was

Read more
28 Nov 2013 14:52

Falkland Oil & Gas Gets Government Approval For Desire Petroleum Joint Venture

Read more
25 Nov 2013 08:48

Falkland Island Holdings Profit Rises As UK Sales Offset Island Operations

Read more
8 Nov 2013 10:27

Falkland Oil and Gas Begins Third 3D Seismic Survey Of Northern Area Licences

Read more
24 Oct 2013 16:03

Sports Direct's Ashley sells 16m shares, YouGov founder trades in 3.35m

Sports Direct's founder Mike Ashley has sold 16m shares in the retailer, representing a 2.7 per cent holding and netting the billionaire owner of Newcastle United 106m pounds. An announcement to the stock exchange revealed Ashley had sold the shares at a price of 662.5p, marking a 7.5% discount to

Read more
24 Oct 2013 11:30

DIRECTOR DEALINGS: Falklands Oil and Gas Senior Executives Buy Shares

Read more

Quickpicks are a member only feature

Login to your account