TIDMFOGL

RNS Number : 5680N

Falkland Oil and Gas Limited

19 May 2015

19 May 2015

Falkland Oil and Gas Limited

("FOGL" or the "Company")

Well 14/20-1 'Isobel Deep' operations update

Falkland Oil and Gas Limited ("FOGL"), the exploration company focused on its extensive licence areas to the North, South and East of the Falkland Islands, is providing an operational update on the 14/20-1 "Isobel Deep" well that was spudded by Premier Oil (well Operator) on 8th April 2015.

A zone of suspected elevated formation pressure was penetrated at the base of the current 12 1/4 " hole section and oil shows were also encountered in this interval. The operator has decided to run an additional casing string before drilling ahead through the main reservoir target to total depth. This scenario had been anticipated and the additional 9 (5) /(8) " casing is already on the rig.

This additional activity will add approximately 10-15 days to the schedule and final results are now expected in early June.

This additional work has no financial impact on FOGL, as the Company is fully carried through the costs of the Isobel Deep well by Premier Oil and Rockhopper Exploration.

For further information:

 
 Falkland Oil and 
  Gas Limited 
  Tim Bushell, Chief 
  Executive               +44 (0) 20 7563 1260 
 RBC Capital Markets 
  (Nominated Advisor 
  and Joint Broker) 
  Matthew Coakes 
  / Daniel Conti          +44 (0) 20 7653 4000 
 Numis Securities 
  Limited (Joint 
  Broker) 
  John Prior / Ben 
  Stoop / Paul Gillam     +44 (0) 20 7260 1000 
 FTI Consulting 
  Ed Westropp / George 
  Parker                  +44 (0) 20 3727 1000

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCLLFLDEIITLIE

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