Falkland Oil and Gas begins 3D seismic survey

Falkland Oil and Gas has reported that it is starting a 3D seismic survey programme on the southern area licences covering a minimum area of 4,000 square kilometres.

Falkland Oil and Gas has reported that it is starting a 3D seismic survey programme on the southern area licences covering a minimum area of 4,000 square kilometres.

The programme is set to take about four months to complete.

The Falklands-based company said that it has had to alter its original plans and swap the order of the two planned surveys on the region, due to the late completion of the Scotia well which left insufficient time to allow the results of the well to influence the exact location and design of the 3D survey.

Advertisement - Article continues below

The second 3D survey is expected to commence in the first quarter of 2013.

Tim Bushell, Chief Executive of FOGL, said: "We are pleased to announce the start of a very important 3D seismic survey programme, which marks the continuation of our exploration activities. The 3D seismic will be invaluable for identifying future drilling targets, locating good quality reservoir and differentiating oil from gas prospects."

The share price was unmoved at 10:30.




Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular


House price crash: UK property prices are falling – so where next?

With UK property prices falling for the first time in eight years, are we about to see a house price crash? John Stepek looks at what’s behind the sli…
2 Jul 2020

How can markets hit new record highs when the economy is in such a mess?

Despite the world being in the midst of a global pandemic, America's Nasdaq stock index just hit an all-time high. And it's not the only index on a bu…
3 Jul 2020

The end of the bond bull market and the return of inflation

Central bank stimulus, surging post-lockdown demand and the end of the 40-year bond bull market. It all points to inflation, says John Stepek. Here’s …
30 Jun 2020