Falkland Oil and Gas Limited Well 14/20-1 'Isobel Deep' operations update (8474M)
May 12 2015 - 2:01AM
UK Regulatory
TIDMFOGL
RNS Number : 8474M
Falkland Oil and Gas Limited
12 May 2015
12 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 as
operator, on 8th April 2015.
The technical issues relating to the blow-out preventer ("BOP")
control system have now been fully resolved and drilling operations
on Isobel Deep have recommenced. Whilst these repairs were being
undertaken the rig was utilised to drill top-hole sections and set
conductors on the Chatham and Jayne East Locations. On Jayne East,
(FOGL 40% interest) the 36" conductor was set at a depth of
541metres and the well temporarily suspended. Drilling on Jayne
East will recommence when the rig returns after the Humpback well
in the South Falklands Basin.
The Isobel Deep well is expected to take approximately 15 days
to complete. A further release will be issued once logging is
completed.
The Company is fully carried through the costs of the Isobel
Deep and Jayne East wells by Premier Oil and Rockhopper Exploration
and therefore, is not impacted by these operational issues.
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
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