LONDON--Falkland Oil and Gas Ltd. (FOGL.LN), an oil and gas exploration company focused on its extensive license areas to the South and East of the Falkland Islands, said Wednesday the PGS M/V Ramform Sterling has started a 3D seismic survey over the mid Cretaceous Diomedia fan complex within the southern area licenses.

MAIN FACTS:

-Survey will cover a minimum area of 4,000 square kilometers and is likely to take four months to complete.

-This survey will be operated by Noble Energy Inc. (NBL).

-Original plan was that the Diomedia survey would be acquired later in 2013; however, due to the late completion of the Scotia well, there has been insufficient time to allow the Scotia results to influence the exact location and design of the 3D survey.

-As a result, FOGL and its joint venture partners have decided to swap the order of the two surveys and the northern area 3D survey will now be acquired in the fourth quarter of 2013.

-A second 3D survey, operated by FOGL and using the PGS M/V Ramform Challenger, is expected to start in the first quarter of 2013.

-Shares closed Tuesday at 30 pence valuing the company at 95.2 million pounds.

-Write to Ian Walker at ian.walker@dowjones.com

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