LONDON--Falkland Oil & Gas Ltd. (FOGL.LN) Thursday said it
has completed a seismic survey program over the Cretaceous Fault
Blocks within its Southern Area Licenses to the South and East of
the Falkland Islands.
MAIN FACTS:
-A total of 1,018 square kilometers of full fold seismic data
have been acquired.
-This survey was designed to target a number of prospects and
leads immediately to the west and north-west of the Darwin
gas-condensate discovery.
-The survey was operated by Noble Energy Inc. (NBL) on behalf of
the Joint Venture, which also includes Edison S.p.A. (EDNR.MI).
-The survey was completed within budget.
-The data will now be processed by PGS and a fast track product
will be available for interpretation in approximately two
months.
-It is anticipated that the final processed data will be
available in the fourth quarter of 2013.
-The fast track data will be used to commence prospect mapping
and the selection of well locations.
-The Joint Venture expects to award a contract in the near
future for a third three-dimensional seismic survey that will be
acquired in the northern licence area in the fourth quarter of
2013.
-Shares closed Wednesday at 25.25 pence.
-Write to Iain Packham at iain.packham@dowjones.com
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