Falkland Oil and Gas (FOGL) said it had begun drilling an exploration well at its Scotia prospect, 315 km east of the islands.
The well is designed to test Scotia within the mid-Cretaceous fan play and operations are expected to take around 75 days, reaching a total depth of around 5,000 metres.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Nvidia becomes world's first $4 trillion companyThe AI boom has catapulted Nvidia’s share price to astronomic heights, becoming the world’s most valuable company and the first to pass the $4 trillion milestone
-
Trump delays Liberation Day 2.0, but threatens new tariffsDonald Trump has extended his 90-day tariff pause but has sent letters to 14 countries detailing the tariffs they will face from 1 August, as well as threatening new levies on copper and pharmaceuticals
