Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • Investegate.co.uk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com
  • FETransmission.com
  • Trustnet.hk
  • FEAnalytics.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

 Information  X 
Enter a valid email address

Falkland Oil and Gas (FOGL)

  Print      Mail a friend       Annual reports

Monday 21 November, 2011

Falkland Oil and Gas

Operational Update & Investor Presentation

RNS Number : 4113S
Falkland Oil and Gas Limited
21 November 2011
 



21 November 2011

Falkland Oil and Gas Limited

("FOGL" or "the Company")

Operational Update and Investor Presentation

 

FOGL, the oil and gas exploration company focused on its extensive licence areas to the South and East of the Falkland Islands, has today posted a new investor presentation on its website (www.fogl.com) and provides an update on its operations.

 

The Company is awaiting the departure of the Leiv Eiriksson rig from Greenland and now expects it to arrive in the Falkland Islands in late January 2012. FOGL will have access to the rig for the third and fourth slots in the combined Borders & Southern and FOGL programme and expects to commence drilling in the second quarter of 2012 on its Loligo prospect in FOGL's Northern licence area.

 

Following a detailed review of its budgets and assumptions, FOGL has identified various drilling options and, based on geological, commercial and financial factors at the relevant time, the Company will decide which options to progress.

 

The Company remains funded to drill a well on Loligo and a second well on another Tertiary Channel target such as Nimrod or Vinson. Based on the latest projections, a second well is fully funded only in the event that a shallower well is drilled on Loligo.

 

The Company's current technical preference for the second well would be the Scotia prospect in the Mid Cretaceous Fan play. However, the feasibility of this option is dependent upon the Company securing additional funding and the priority of the Scotia prospect may change if information obtained from the Loligo well provides further justification for the drilling of a well on either Nimrod, Vinson, or a second well on Loligo. We may also consider drilling the Inflexible prospect if the results of the well drilled by Borders & Southern Petroleum plc ("Borders & Southern") on their Darwin prospect are encouraging.

 

The drilling approval process is on schedule. The environmental impact statement ("EIS") was presented at a public hearing in the Falkland Islands in September 2011 and final approval is expected by end 2011.

 

Well planning is also now at an advanced stage. This work is being carried out by FOGL, in conjunction with AGR Peak Well Management, and is focusing on drilling locations on Loligo, Scotia, Nimrod, Vinson and Inflexible.

 

 

 

The Company continues its discussions with a number of oil companies who have expressed an interest in participating in FOGL's exploration drilling programme, and a successful conclusion to these discussions would provide greater flexibility to the Company's drilling programme.

 

Separately, and further to the heads of Agreement signed with BHP Billiton ("BHPB") in March 2011, FOGL reports that an assignment agreement for the Northern licence area has been signed by FOGL and BHPB. This agreement has also received the approval of the Falkland Islands Governor. Whilst finalising this agreement it was agreed that BHPB would not to have the option to farm back into the Loligo development area.

 

Tim Bushell, Chief Executive of FOGL, said:

 

"Preparation for the forthcoming drilling campaign continues apace with the objective of providing as much flexibility as possible. We are in the fortunate position of having a number of high potential prospects across a range of different play types, from which to select the second well target. We will be able to take advantage of information gained from both Loligo and the wells being drilled by Borders & Southern in making this decision."

 

-   Ends -

 

Enquiries:

 

Falkland Oil and Gas

+44 (0) 207 563 1260

Tim Bushell, Chief Executive

 


Oriel (Nominated Advisor and Joint Broker)

+44 (0) 207 710 7600

David Arch / Gareth Price / Ashton Clanfield

 


Jefferies (Joint Broker)

 +44 (0) 207 029 8000

Chris Snoxall / Richard Kent

 


FTI Consulting          

+44 (0) 207 831 3113

Ben Brewerton / Ed Westropp

 


 

In accordance with the AIM Rules, the information included in this announcement has been reviewed by Colin More BSc., MSc. (Exploration Director), who has over 25 years of experience in petroleum exploration. Mr More is a member of the Geological Society of London, the American Association of Petroleum Geologists and the Society of Exploration Geophysicists.

 

 

 

Note to Editors

FOGL is an AIM listed oil and gas exploration company operating in the South and East Falkland basins, potentially a new petroleum province in the South Atlantic.

The South and East Falkland basins are completely separate and geologically distinct from the North Falkland basin. The South and East Falkland basins cover a much larger area and have a significantly thicker sedimentary section, potentially allowing for the development of a variety of hydrocarbon 'plays' at different stratigraphic levels; but the basins also lie in deeper water (500 - 1800 metres). Geological analogues for the South and East Falkland basins are the passive margin basins of West Africa and Brazil.

FOGL has contracted the Leiv Eiriksson to drill 2 exploration wells in the first half of 2012. The rig is currently operating in Greenland for Cairn Energy where it is finalising work on the last well in their drilling programme. It will then depart for the Falkland Islands. The transit time is approximately 60 days. On arrival in the Falkland Islands it will commence a 2 well programme for Borders & Southern, drilling the Darwin and Stebbing prospects. FOGL will then use the rig to drill 2 wells, the first being on the Loligo prospect. FOGL has a number of potential options for the second well, further details of which can be found on the company's website.


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCDKFDDOBDDCDD