Anyone any idea what is going on with this shares, as it has tumbled from mid 120's to 87p within a matter of a fortnight?

Thanks.

Falkland Oil and Gas Limited
21 December 2006

21st December 2006





Falkland Oil and Gas Limited
('FOGL' or 'the Company')



Interim results for the six month period ended 30 September 2006





Highlights



Revised forward programme approved by the Falkland Islands Government
- Additional infill 2D seismic, Controlled Source Electro-Magnetic
('CSEM') and sea bottom coring surveys

Work programme to be executed over the coming Austral Summer is
specifically targeted at our top 20 prospects

Discussion with potential farminees ongoing

RAB Special Situations (Master) Fund Limited has committed 8 million
by way of convertible loan notes in the Company.

Independent technical verification received from TRACS International.
Their evaluation focussed on 10 prospects, which they assessed to have
a net risked prospective resource potential of 863 million barrels and
unrisked net prospective resources of 10,089 MMbbls

Cash balance of 12.6 million as at 30 September 2006





Strategy & Outlook



FOGL is committed to pursuing an aggressive exploration programme
which could lead to the development of a new petroleum province in the
South Atlantic

Revised work programme designed to de-risk and define prospects ready
for drilling

Introduce suitable partners

Secure a rig during 2007 and commence drilling in 2008






Richard Liddell, Chairman of FOGL, said:



'FOGL is in excellent shape for 2007. We have secured financing and have two
vessels starting work in the Falklands in the near future. The results of their
work should enable us to confirm our drilling targets, which will facilitate the
farmout process and rig acquisition.



The last six months has been a period of further progress for our company. Our
new work programme has been approved and we believe it will provide the most
effective exploration solution for our acreage and improve our chances for
success. This programme is targeted at our larger prospects and we believe that
the data gained will allow us to define drilling targets and provide potential
farminees with further confidence in our project.



We have a clear focus for the year ahead. The year will be crucial for FOGL as
we drive towards our goal of drilling our first exploration wells in 2008.
There is a great deal of important pre-drilling work being undertaken;
evaluating the results of our programme, finalising our exploration plans and
sourcing a rig. With our strong balance sheet the Board believe that the
company is well placed and will make further significant progress in the coming
year.'

21 December 2006



Enquiries:

Falkland Oil and Gas Limited
28 December 2006

Falkland Oil and Gas Limited
'The Company'



Completion of Convertible Loan

Falkland Oil and Gas Limited, ('FOGL' or 'the Company') is very pleased to
announce that on 22 December 2006, final terms and conditions were agreed with
RAB Special Situations (Master) Fund Limited ('RAB SSMF') for RAB SSMF to invest
8 million by way of convertible loan notes ('Notes') in the Company.

RAB SSMF has immediately subscribed for 2 million of Notes, and will subscribe
for a further 2 million of Notes on each of 23 February, 30 April and 24
September 2007.

These funds will provide the Company with additional cash resources to fund its
ongoing exploration programme in its licences located to the South and East of
the Falklands. In particular it will be used to fund the costs of the Controlled
Source Electro Magnetic Survey ('CSEM') to be conducted by OHM Limited and a
seabed coring programme.

FOGL is embarking on an exciting programme over the next few months. The 2D
seismic infill survey has already started and the CSEM programme is planned to
commence early in 2007. This programme is aimed at the larger prospects and it
is believed that the data gained will enable the selection of the best targets
for drilling and also, provide potential farminees with further confidence in
FOGL's project

Global Petroleum Ltd
02 January 2007


2 January 2007

Global Petroleum advises that Falkland Oil and Gas Limited ('FOGL') has
announced the completion of its convertible loan agreement with RAB Special
Situations (Master) Fund Limited to raise 8 million. The full announcement can
be found on the FOGL website at
www.fogl.co.uk
.

Global Petroleum holds a 14% interest in FOGL.

I need your help, guys - from one of the more knowledgeable oil threads around.

I have 10% of my portfolio in oils spread across 4 shares - half the normal 5% I allocate to each of my stocks before going overweight.

I now realise I don't know very much about oil stocks and am being drawn towards more trading stocks like ASC, COH, DGT, MYH, RCG which I find I do understand and can do my own analysis (on margin, ROCE, EPS, PE, PEG etc) pretty competently. Whereas I fins oils a mixture of prosaic trading and pure speculation. Much as I like a flutter, it's not a reliable way of building my pot for me. So I'm contemplating reducing/extinguishing my exposure to oils.

Of the four stocks I hold, CHP, EEN, FOGL and SEY (all of which appear to be on the brink of the "big break through" - well, maybe FOGL has a yeaer of two longer to wait than the others) in what order would you advise me to dispose of each in turn - leaving the best prospect till last, of course?

Perhaps I know what the answer from this thread will be, but nonetheless TIA!