FOGL, the oil and gas exploration company focused on its extensive licence areas offshore the Falkland Islands is pleased to provide the following operations update with respect to the 3D seismic programme.
3D seismic survey over the Cretaceous Hersilia Fan complex
The PGS M/V Ramform Titan has completed a 3D seismic survey over the Cretaceous Hersilia Fan complex within FOGL's Northern Area Licences. A total of 5,747 square kilometres of full fold seismic data have been acquired. This survey was designed to target a number of prospects and leads including Hersilia, West Hersilia and Challenger. The survey was operated by Noble Energy on behalf of the Joint Venture, which also includes Edison International Spa. 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 three months. It is anticipated that the final processed data will be available in the third quarter of 2014. The fast track data will be used to commence prospect mapping and the selection of well locations.
This is the third and final 3D survey prior to the next drilling programme, which is expected to commence in early 2015. The joint venture has now acquired 12,000 square kilometres of high quality 3D seismic data and is very encouraged by the results of the first two surveys.
PGS have operated all three surveys, which have been conducted safely and without incident. FOGL would like to thank PGS and their employees for their contribution to the success of this programme and the excellent safety, environmental and operational performance achieved.
Tell me if Scotland have there own independance and hold all north sea assets,would you think the British government would consider buying a huge chunk of our exploration contracts,speed up drilling /production keeping the British economy from going short of 27 billion of north sea revenues,just food for thought
Many on here are commenting on how the sp is doing --up down--where will it go--well IMHO it will go no where fast---at present---no share will fluctuate greatly on NO NEWS and that is what we are getting at the moment NO NEWS. Until we get some encouraging--or otherwise--news, we will remain around this sort of price so no real point in posting much until things start to move---which I hope will not be too long!! Good Luck all
Surprised with the dip today. I felt we had bottomed out and were on the incline. An update on the RIG plans would help the SP and likewise the broader drilling programme plans and results from seismic activity. Keep patient with FOGL those who hold will I am sure be rewarded. I would be disappointed not to see well in excess of a £1 during 2015.
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