28 Jun 2010 14:05
28 June 2010
Falkland Oil and Gas Limited
("FOGL" or "the Company")
Share price movement
FOGL, the oil and gas exploration company focused on its extensive licence areas to the South and East of the Falkland Islands, notes the recent share price movement and can confirm it knows of no reason for the price rise.
FOGL announced on 1 June 2010 that the Toroa F61/5-1 exploration well had spudded on Monday 31May. The Toroa prospect is located in Licence PL15, in which FOGL has a 49% interest.
The well is being drilled to an estimated target depth of 2,700 metres. Drilling operations were expected to take approximately 35 days. Some delays have been experienced due to bad weather at the beginning of drilling operations, however, FOGL expects to announce the preliminary results of the Toroa F61/5-1 well in the week commencing 5 July 2010.
Enquiries:
| Falkland Oil and Gas | +44 (0) 207 563 1260 |
| Tim Bushell, Chief Executive |
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| Oriel Securities (Nominated Adviser) | +44 (0) 207 710 7600 |
| David Arch / Natalie Fortescue |
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| Financial Dynamics | +44 (0) 207 831 3113 |
| Ben Brewerton / Ed Westropp |
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