Ocean Guardian extends Falklands tour to Toroa

Falkland Oil and Gas Limited (FOGL) is set to drill its first exploration well off the Falkland Islands. The Diamond Offshore semisub Ocean Guardian will drill the Toroa prospect in the East Falklands basin, probably during the first half of 2010.

Offshore staff

LONDON -- Falkland Oil and Gas Limited (FOGL) is set to drill its first exploration well off the Falkland Islands. The Diamond Offshore semisub Ocean Guardian will drill the Toroa prospect in the East Falklands basin, probably during the first half of 2010.

Late last year, Desire Petroleum negotiated a multi-well program with the rig for its prospects in the North Falkland basin with the aim of releasing certain rig slots to other interested parties in the region. Rockhopper also has taken up this offer for its northern Falkland acreage.

The well on Toroa will be operated by FOGL’s partner BHP Billiton Petroleum. BHP submitted an environmental statement last September to the Falklands Islands government to drill two wells on Toroa and the Loligo prospect in license areas PL015 and PL028. At that point, no rig had been commissioned.

Toroa’s well, 160 km (99 mi) south of Port Stanley, will be the first ever drilled this far south. All previous exploration, during the multi-well campaign of 1998, was in the North Falklands basin. According to the operational addendum for the environmental statement, the well should take 30-40 days to drill.

02/16/2010

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