STRATEGY

•FOGL seeks to add shareholder value by pursuing an aggressive exploration programme in its licences to the south and east of the Falkland Islands. Exploration drilling will continue in the deep water areas of FOGL’s licences in the first half of 2012. If successful, this drilling could lead to the development of a new hydrocarbon province in the South Atlantic.

Next Phase of drilling

In the first half of 2012 FOGL is planning to drill two wells in the deep water area of its licences.
FOGL has contracted the Leiv Eiriksson rig to undertake this drilling programme. The rig is due to arrive in the Falklands in early 2012 when it will initially drill two wells for Borders and Southern Plc (B&S), before commencing the FOGL drilling programme. The B&S wells are to be drilled on the Darwin and Stebbing prospects. The results of these wells will be of interest to FOGL, because we have similar plays and prospects within the southern part of our licence area.

The first well to be drilled in the FOGL programme will be on the Loligo prospect. A number of options exist for the second well, including potentially a well on Scotia, a prospect within the Mid Cretaceous Fan Play. The final decision on which prospect will be targeted by the second well will be guided by the results from Loligo.

Funding

As at 7 September 2011 FOGL's available funds, including the BHP Billiton settlement, were $150.8 million. The Company is debt free.


2012 Drilling Programme

The Leiv Eiriksson a harsh environment rig has been drilling wells offshore Greenland for Cairn Energy. That campaign is expected to finish by the end of November 2011 after which the rig will head south to the Falkland Islands. The rig will first drill two wells (about 90 days drilling) for Borders and Southern Plc (B&S) before moving on to the FOGL programme. The transit time from Greenland is expected to be approximately 60 days.

A great deal of work has gone into the planning of the FOGL drilling campaign and over the preceding years a large amount of data has had to be collected to so that the drilling can take place.

Seismic data was acquired from 2004 to 2007 and again in 2011, CSEM in 2007, site surveys in 2009 and 2011 and metocean data, from permanent current meters, in 2009/10. Well planning essentially started in 2009 with the drilling of three, 200m deep, geotechnical boreholes. This data helped with the planning of the shallow section of the Toroa well (FI 61/05-1) and has been extensively used in the planning of the deep water programme.

The first well in the FOGL programme will be on the giant Loligo prospect. A second well will also be drilled by FOGL using the Leiv Eiriksson and site surveys have been acquired over the following prospects: The Nimrod Complex and the Vinson prospect in the Tertiary Channel Play, the Scotia or Hero prospects in the Mid Cretaceous Fan Play and the Inflexible or Endeavour prospect in the Springhill Sandstone Play. Options that are currently being considered depend upon the results of the first well on Loligo. The final play in the FOGL acreage is in the Fold Belt in the south west of the FOGL acreage. This play is being tested by B&S at their Stebbing prospect. Similar features exist within the FOGL acreage and the results of the well will be closely monitored. In addition the B&S, Darwin well is targeting a tilted fault block which again shows great similarities with several prospects in the FOGL portfolio (Inflexible, Thulla etc.). Depending on the results of Darwin FOGL may consider a well on Inflexible as the second well in the programme.

FOGL’s main focus is on the two younger plays, the Tertiary Channel and the Mid Cretaceous Fan play. FOGL has been working on the Mid Cretaceous play for some time but it was only in late 2009, when the seismic data had been fully reprocessed, that it became clear that this major new play was viable. The play is analogous to the ones being successfully targeted in West Africa (the Tullow Jubilee field in Ghana and other discoveries along that margin) and the general geology, depositional setting and even the AVO response (Class II response over Scotia and Hero) are remarkably similar. The two main prospects, Scotia and Hero, both contain prospective resources in excess of 1 billion bbls. One of the key features that makes this play so attractive is that the reservoir sands sit directly above the mature Aptian oil source rocks which were sampled in the DSDP wells to the East of the FOGL acreage.

2012 DRLLING TARGET LOLIGO

The shallowest target alone covers an area of over 600sqkm. The Loligo prospect was first mapped in 2006 and has been re-mapped and re analysed several times since then. It is a large stratigraphic trap which is supported by a very consistent Class III AVO response on the seismic data. It is an ‘easy to map’ anomaly which stands out clearly above the background seismic responses when compared to the entire basin. In addition, it sits directly above an old high which used to separate the Southern basin (Fitzroy sub-basin) from the Northern basin (Volunteer sub-basin). This old high seems to be acting as a focus for hydrocarbon migration from deeply buried source rocks in each of the sub basins.

Beneath the southern part of Loligo several other prospects within the Tertiary Channel play, overlap and may be penetrated by one carefully located well. The deeper prospects (each covering an area similar to Loligo) have been called Trigg and the Three Bears. Together these prospects are called the Loligo Complex. The prospective resources (recoverable oil) associated with the Loligo complex, are in excess of 4 billion bbls of oil or over 25tcf of gas.




FOGL is focused exclusively on offshore oil and gas exploration in the Falkland Islands.

We are pursuing an aggressive exploration programme that could lead to the development of a new petroleum province in the South Atlantic. The joint venture operations have now moved into the drilling phase.
•
Most prospects in 2,000 – 4,500 feet water depth (610 – 1372m)

•
Target horizons: 6,000 – 13,000 feet below sea bed lever (1829 – 3962m)

•
Falklands weather is similar to West of Shetland

•
Remote location but there were no major issues during 1998 drilling campaign

•
Anchored semi-submersible or drillship for exploration drilling

•
Tried and tested technology for developments



Falkland Oil and Gas Limited Licence area.




FINANCIAL SUMMARY http://www.fogl.com/fogl/en/Investors/performance

FOGL HOME http://www.fogl.com/fogl/en/home

http://www.stockopedia.co.uk/content/falkland-oil-and-gas-2012-its-time-63024/

Good news imminent ???????- may be (with luck ) negotiating to buy a rig. enough speculation the sp is up for whatever the reason, and buyers are emerging.

Smiler cheers for the FOGL tip may be you should change your name to Viagra as every tip you give seems to go up cheers

Well smiler, you are on the ball today ! News out.

Falkland Oil and Gas Limited
23 July 2007



Falkland Oil & Gas Limited

(the 'Company' or 'FOGL')





Falkland Oil & Gas Limited (the 'Company' or 'FOGL') notes the price movement in
the Company's share price and confirms that it is in advanced discussions which
may or may not lead to a major resources company farming in to certain of its
assets.



Any such transaction, if agreed between the two parties, would be subject, inter
alia, to the approval of the Falkland Islands Government.



A further announcement will be made in due course.

23 July 2007

Well I got 637 @101 to top up , they know the oil is there and need a major company to Drill/extract it. Interesting times ahead , we still have the CSEM presentation Nov 2007?.


RE CAP

Falkland Oil and Gas Limited (FOGL)
Operations Update
Falkland Oil and Gas Limited (FOGL) is pleased to provide the following update on its Falkland
Islands exploration programme:
2D seismic survey now completed, with 9,950 km of seismic data acquired.
Initial indications are that the data is of very good quality.
Second phase of CSEM survey commenced on 4 June
Results from first phase CSEM survey are encouraging.
Results of 2D seismic and the CSEM survey will be used to produce short list of
best prospects for drilling.
FOGL is pleased to announce the completion of its 2006-2007 2D seismic infill survey. The
survey, which commenced on 19 December 2006, was completed on 31 May 2007. A total of
9,950 kilometres of new seismic data have been acquired by Wavefield InSeis AS. Processing of
these data is now underway and early indications are that they will provide much higher
definition of FOGLs high-graded prospects. Processing of the complete survey is likely to take
several months.
The second phase of the Controlled Source Electro-Magnetic (CSEM) survey being acquired by
Offshore Hydrocarbon Mapping plc commenced on 4 June 2007. The acquisition phase is
expected to take 6 to 8 weeks to complete. Results from the first phase of the survey, which
comprised 4 lines over 6 prospects are encouraging. Processing of the CSEM data is a complex
and lengthy process and is still ongoing. FOGL have however, already identified several 'positive
anomalies'.
The forward plan is to integrate the results of both the new 2D seismic data and the CSEM with
our existing work in order to produce a short list of the best prospects for drilling. FOGL expects
to be able to make further announcements regarding this later in 2007. Discussions with rig
owners and potential farminees are continuing and we remain confident that the current
exploration programme will lead to an exciting drilling programme in 2008.
Tim Bushell, Chief Executive of FOGL commented:
We are very pleased to have completed the 2D seismic survey and early indications
are that these data will provide much greater definition over our best prospects.
Initial results from the CSEM survey are encouraging and they further reinforce our
view that the South and East Falkland basins are prospective for the discovery of
significant volumes of oil and gas.

Falkland Oil and Gas Ltd today said that it is
in advanced discussions for a possible farm-in deal with a "major resources"
company, justifying the recent price movement in its shares.
On June 13, Falkland Islands Holdings PLC, which runs a range of businesses
in the Falkland Islands and the UK's Portsmouth Harbour Ferry Co, gave an upbeat
view of the future after it reported increased annual profits.
The group owns 16.3 pct of Falkland Oil and Gas.

UP 45% + AND STILL some buying at this level !! very pleased :)

Darradev, did you jump in ?

No smiler, am already holding an interest through GBP although that is not yet in profit. Soon maybe. Well done to you though, cracking day !

(EDIT) THERE is still time for you in fogl , the deal hasn't even been announced yet, still early days so still time to jump in later.

No, but thanks for the 'heads up'. Will take a look and post on that thread.

worth having a look ! As for FOGL Tomorrow should be interesting , News should have done the rounds, + day traders should have taken there profit by now so with luck may see some more buying ! (nice 100k T trade at closing)

On AIM, the oil and gas stocks were flying. Falkland Oil and Gas revealed it was in discussions that could lead to a major resources company farming in some of its assets. The group climbed 42p to 123p. Market makers said the announcement had boosted the sector. Borders & Southern Petroleum rose 6.25p to 34p and Global Petroleum, which has a stake in Falkland, was up 1.5p to 9p. This is good news for Global, whose price tanked at the end of last year and which is hoping for good news from its well in Kenya.

http://news.independent.co.uk/business/analysis_and_features/article2795717.ece

Global Petroleum Ltd
24 July 2007



FALKLAND OIL & GAS LIMITED ANNOUNCEMENT

Global Petroleum Limited advised that Falkland Oil & Gas Limited ('FOGL') has
released an announcement in relation to a possible farm in to certain assets.
The full announcement appears hereunder.

Global Petroleum holds a 14% interest in FOGL.

Mark Savage
Chairman

FOGL, RKH, GBP all going well, the CSEM survey data must be good, intresting times ahead !

i,ve always thought holders of falkland explorers would be old and grey before any black stuff came out of the ground and another war with the argies a certainty but good luck anyway.

Thank's Maddoctor, still early days yet, but nice to be in a good profit even on todays slight drop !

LONDON (Thomson Financial) - A positive exploration update led shares in
Rockhopper Exploration higher, up 4-1/2 to 51-1/2, as the group said initial
work at its lead PL023 and PL024 prospects suggests 2.5 bln barrels of
recoverable oil reserves.
The North Falkland Islands explorer said the net present value of a single
100 mln barrel recoverable oil field would be between 750 mln usd and 1 bln.
It added that it expects to receive the final processed volume data at the
end of July.

Falklands doing ok !

of interest http://www.bgs.ac.uk/falklands-oil/download/download_files/Exploringforfansands.pdf

glad to see some PI are still buying !top slice ok, but why sell when things are looking good ? re cap ..................................

FOGL completes 2D survey

South Atlantic explorer Falkland Oil and Gas Limited has completed the acquisition of 9,950 km of 2D seismic data which has initially shown good quality and the company is now closer to firming up drilling prospects.