LONDON--Falkland Oil and Gas Ltd. (FOGL.LN, an oil and gas
explorer with license areas offshore the Falkland Islands,
Wednesday said it signed the rig contract for a six well drilling
program starting in early 2015.
MAIN FACTS:
-FOGL will participate in two wells operated by Noble in the
South and East Falkland Basin and three wells operated by Premier
in the North Falkland Basin
-Up to eight option slots available for additional drilling
-FOGL is fully funded throughout its five well programme
-Premier Oil signed a contract for a dynamically positioned,
harsh environment semi-submersible drilling rig; several other
related contracts have also been agreed, including a rig sharing
agreement with Noble Energy Falklands Ltd.
-The rig will be mobilised to the Falkland Islands to start late
1Q/early 2Q
-Shares at 0714 GMT up 1 pence or 2%
-Write to Ed Ballard at ed.ballard@wsj.com
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