FOGL.L Regulatory News (FOGL)

17 Aug 2007 07:00

Falkland Oil and Gas Limited17 August 2007 Falkland Oil and Gas Limited ("FOGL" or "the Company") Disclosure of information required by AIM Rule 26 The Company today announces that the information required by Rule 26 of the AIMRules for Companies (February 2007) is available under the heading "AIM Rule 26"within the Investor Relations home page section of the Company's websitewww.fogl.com. 17th August 2007 Enquiries: FOGL 020 7563 1260Tim Bushell, Chief Executive KBC Peel Hunt (Nominated Adviser) 020 7418 8900Jonathan Marren / Matt Goode College Hill 020 7457 2020Nick Elwes / Paddy Blewer Notes to Editors: Falkland Oil and Gas Limited ("FOGL") is an oil and gas exploration companyfocused exclusively on opportunities offshore of the Falkland Islands. It wasadmitted to London's Alternative Investment Market ("AIM") on 14 October 2004 atan issue price of 40p. The current major shareholders of FOGL are: FalklandIslands Holdings plc (16.31%), Global Petroleum (13.97%) and RAB Capital plc(32.67%). At the time of the admission to AIM, FOGL held a 77.5% interest in sevenoffshore production licences covering approximately 33,700 sq km to the southand east of the Falkland Islands. FOGL holds these licences in a joint venturewith Tullow Oil plc. In December 2004, FOGL was awarded a 100% licence over anadditional 50,000 sq kms adjacent to its existing licence areas. The 65,354 sqkm area held by FOGL in 2007 is equivalent to 297 North Sea blocks: as large asthe Southern Gas Basin and the Central Graben combined. FOGL's work programme in 2007 is specifically designed to de-risk and define theprospects already identified on its acreage. As such the Company has undertakena CSEM programme and infill 2D seismic programme to identify the best prospectsfor drilling in 2008. The results of these surveys are expected later on thisyear. FOGL's stated strategy has been to also introduce a suitable farm-in partnerinto its acreage. The Company recently announced that it is in advanceddiscussions with a Major Natural Resources Company in respect of this, althoughthere is no guarantee that these discussions will lead to that Companyparticipating in FOGL's future plans. Further announcements will be madeupdating on this situation in due course. This information is provided by RNS The company news service from the London Stock Exchange