Falklands frontier well fails to deliver

Falklands Oil & Gas (FOGL) is disappointed with the latest exploration well offshore the Falkland Islands.

Offshore staff

LONDON -- Falklands Oil & Gas (FOGL) is disappointed with the latest exploration well offshore the Falkland Islands.

Toroa F61/5-1, the third in the current campaign involving the semisubmersible drilling rig Ocean Guardian, was drilled to a TD of 2,476 m (8,123 ft) in the East Falklands basin.

The well did not encounter any reservoir hydrocarbons. Logging operations have been completed, and the well and will be P&A’d.

FOGL and partner BHP will perform further detailed evaluation of all resultant data.

Tim Bushell, FOGL CEO, says: "Whilst the results of the Toroa well are disappointing, it has to be remembered that this is the first well in a previously undrilled frontier basin.

“We believe that these results have helped to reduce some of the key risks of the plays in the deepwater areas of our licenses. In that respect the well is certainly encouraging for further exploration and we look forward to continuing our exploration program once a suitable deepwater rig has been secured."

07/12/2010

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