1 Dec 2009 13:21
Falkland Oil and Gas Limited
("FOGL" or "the Company")
Holding in Company
On 30 November 2009 the Company was informed that, on that day, Falkland Islands Holdings plc ("FIH") sold 3 million ordinary shares of 0.002 pence in FOGL at a price of 120 pence per share, representing 20% of its holding and representing 2.1% of the issued share capital of FOGL as enlarged by the placing on 26 November 2009. Following the sale, FIH retains 12 million shares in FOGL representing 8.2% of the enlarged issued share capital of FOGL.
The Board of FIH has advised FOGL and Oriel Securities Limited, FOGL's Nominated Adviser and Broker, that FIH does not intend to dispose of any further shares in FOGL, other than in exceptional circumstances, prior to completion of the drilling of the Toroa well.
Enquiries:
| Falkland Oil and Gas | +44 (0) 207 563 1260 |
| Tim Bushell, Chief Executive | |
| Oriel Securities (Nominated Adviser) | +44 (0) 207 710 7600 |
| David Arch / Natalie Fortescue / James Nevin | |
| Financial Dynamics | +44 (0) 207 831 3113 |
| Ben Brewerton / Ed Westropp | |