Falkland Oil and Gas Limited Well 14/20-1 'Isobel Deep' operations update (5680N)
May 19 2015 - 1:00AM
UK Regulatory
TIDMFOGL
RNS Number : 5680N
Falkland Oil and Gas Limited
19 May 2015
19 May 2015
Falkland Oil and Gas Limited
("FOGL" or the "Company")
Well 14/20-1 'Isobel Deep' operations update
Falkland Oil and Gas Limited ("FOGL"), the exploration company
focused on its extensive licence areas to the North, South and East
of the Falkland Islands, is providing an operational update on the
14/20-1 "Isobel Deep" well that was spudded by Premier Oil (well
Operator) on 8th April 2015.
A zone of suspected elevated formation pressure was penetrated
at the base of the current 12 1/4 " hole section and oil shows were
also encountered in this interval. The operator has decided to run
an additional casing string before drilling ahead through the main
reservoir target to total depth. This scenario had been anticipated
and the additional 9 (5) /(8) " casing is already on the rig.
This additional activity will add approximately 10-15 days to
the schedule and final results are now expected in early June.
This additional work has no financial impact on FOGL, as the
Company is fully carried through the costs of the Isobel Deep well
by Premier Oil and Rockhopper Exploration.
For further information:
Falkland Oil and
Gas Limited
Tim Bushell, Chief
Executive +44 (0) 20 7563 1260
RBC Capital Markets
(Nominated Advisor
and Joint Broker)
Matthew Coakes
/ Daniel Conti +44 (0) 20 7653 4000
Numis Securities
Limited (Joint
Broker)
John Prior / Ben
Stoop / Paul Gillam +44 (0) 20 7260 1000
FTI Consulting
Ed Westropp / George
Parker +44 (0) 20 3727 1000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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