Meinungen zu Falkland Oil and Gas ???

sich mal curcas oil anschauen.WKN AORE6P das Teil läuft hervorragend und
hat eine grosse Zukunft vor sich .Es ist ein Pflanzenrohstoff.Multiculti  

Ich habe vor Kurzem in die Gesellschaft investiert. Aus meiner Sicht werden die in naher Zukunft an Wert deutlich zunehmen. Ich habe sämtliche Berichte der letzten Zeit gelesen und eine Chartanalyse durchgeführt. BTW: Ich hoffe nicht den Holzweg eingeschlagen zu haben :-).
Wer auch Aktien hat, kann sich bitte mal (periodisch) melden, damit man sieht wer noch alles da ist und was ihr für das Jahr 2010 (persönlich) prognostiziert.
Gruß. Takandi.

 

Seit der Veröffentlichung über Toroa ist noch keine Mitteilung bzgl. der Auswertung der Untersuchung der Bohrergebnisse zu lesen gewesen.

Erstaunlich ist dennoch, dass sich der Kurs so gut hält, bin davon ausgegangen, dass es nochmals weiter runter geht. Kann als Indiz gewertet werden, dass trotzdem viel Phantasie und Hoffnungen seitens der Aktionäre besteht.

Aber auch in England wird derzeit nur spekuliert wann endlich die weiteren Bohrungen vorgenommen werden.

Ich bin bisher von 2 Wells im Jahr 2010 ausgegangen. Aber in der homepage von BHP ist auf Seite 38 zu lesen, dass nur eine für dieses Jahr geplant ist.

http://www.bhpbilliton.com/bbContentRepository/docs/petroleu…

http://www.moneyweek.com/investment-advice/share-tips-argos-…

Ist ein aktueller Artikel über die derzeitige Planung der vier Explorer in Falkland.

http://www.moneyweek.com/investment-advice/...-exploration-03108.aspx

Leider immer noch keine veröffentlichten Auswertungen der Laborwerte. Sind mehr als überfällig!! Keine Aussagen über ein Deepwaterrig, Seitwärtsbewegung ist da schon ein Wunder.

Falkland Oil And Gas H1 Loss Narrows - Update

Date: 18 August 2010


(RTTNews) - Fossil-fuel explorer Falkland Oil and Gas Ltd. (FOGL.L) reported Wednesday a narrower loss for first-half ended June 30, helped by smaller exchange loss and increase in financial income.

For the six-month period, loss narrowed to US$2.16 million or 1.48 cents per share from US$3.06 million or 3.24 cents per share in the same period last year.

Falkland, which is yet to start recording revenues, reported foreign exchange loss of US$0.64 million, compared to US$1.03 million in the first half of 2009.

The results of the first six months were helped by an increase in finance income to US$295 thousand from US$66 thousand, and a year-over-year decline in finance costs to US$618 thousand from US$881 thousand.

The group said it completed drilling of its first well on licence area, Toroa, on July 12, but later plugged and abandoned the well on finding no hydrocarbon reserves.

Chairman of Falkland, Richard Liddell, said, "We look forward to continuing exploration in the deepwater area of licences, once a suitable rig has been secured."

FOGL.L closed trading Tuesday at 117.80 pence, down 5.20 pence or 4.23%, on the London Stock Exchange.


Copyright(c) 2010 RTTNews.com, Inc. All Rights Reserved For comments and feedback: contact editorial@rttnews.com  

Sam Moody, Managing Director of Rockhopper Exploration, commented: 'The result of Ernest is disappointing, but the well was always designed to investigate an entirely different geological play type from Sea Lion, to which our focus now turns. Once operations are complete at Ernest, our intention, subject to the usual regulatory consents, is to test the Sea Lion discovery and gain as much information from the well as possible as we continue to plan a potential appraisal campaign.'

Die Folgen bekommen wir jetzt auch zu spüren, mittlerweile ging´s gleich mal 7% runter; auch die anderen werden darunter leiden müssen. Letzt endlich wird alles im Verbund gesehen.

Wenn nicht bald Stellungnahme bezogen wird ist es vorbei mit dem Seitwärtstrend.  

http://www.fogl.com/fogl/templates/fogl/modules/...ric=&ref=47786

Wie ich schon in den oberen postings geschrieben habe ist dieses Jahr nichts mehr zu erwarten. Siehe auch Veröffentlichungen von BHP. Was das bedeuten kann, ist denkbar einfach.

Warten..... Seitwärtsbewegungen, eventuell sinkt der Kurs bis die Veröffentlichung kommt, dass ein Rig geordert wurde. Der Kurs wird dann wieder Phantasie bekommen, wenn es zu den ersehnten Bohrungen kommt.

Interessant ist in diesem Zusammenhang auch die Rolle die Borders Southern Petroleum übernehmen wird.  

31 December 2010


Far too much has been said here and elsewhere about the Falkland Islands this year, and it will no doubt be more of the same next year.

Falkland Oil and Gas (FOGL) had a dry hole at its Toroa prospect, the first and currently only well to the east of the Falkland Islands. No sign of a rig for further drilling yet, and its joint venture partner BHP Billiton has since decided not to continue to the second exploration phase on the southern licences. Falkland Oil and Gas is keeping the faith and assumed 100% and operatorship of the southern licences.

Borders and Southern (BOR) has signed up a rig to drill two of its prospects in the south, in late 2011.

In the North Falkland Basin, Desire Petroleum (DES) declared Liz a gas discovery, but it needs further analysis, Rachel and Rachel North were unsuccessful, although Rachel North was initially declared an oil discovery and then was found to be water wet on test a few days later. Desire Petroleum is now pinning its hopes on the Dawn/Jacinta well, however the latest news is that the Jacinta target is dry and Desire is drilling on to Dawn. After that, its more 3D seismic acquisition.

Rockhopper Exploration (RKH) recorded a dry hole at Ernest and discovered and flow tested oil at its Sea Lion prospect. An appraisal well and a further exploration well outside the Sea Lion Discovery Area are next up on the agenda as well as 3D seismic acquisition programmes on its own account and jointly with Desire and Argos. Rockhopper is also hoping to tie down a deal to keep the Ocean Guardian drilling rig in the Falkland Islands for further drilling after the current contract ends.

Argos Resources (ARG) arrived late to the party when its shares started trading on AIM in late July alongside a £22 million fundraising at 31 pence per share. Argos will use the funds to undertake 3D seismic acquisition over its acreage. Argos has also held out the possibility of a well in late 2011.

Share prices of the Falkland Island exploration companies are heavily influenced by punter passion and can rightly be described as a rollercoaster ride:

Rockhopper Exploration shares started 2010 at 50 pence, reached the dizzy heights of 500 pence and has ended it on 367 pence.

Desire Petroleum started at 90 pence, dropped as low as 40 pence, climbed back up to nudge 170 pence and following its latest bad news is exiting the year around 48 pence.

Falkland Oil and Gas opened the year at 130 pence per share, reached 245 pence in anticipation of a positive well result, crashed to 95 pence on the dry hole and is currently just above 100 pence.

Even Borders & Southern which hasn't yet drilled a well in the Falklands, is ending the year pretty much where it started, about 63 pence per share, however that ignores the drop to 45 pence, the jump up to 92 pence and the subsequent slide back to 63 pence.

Argos Resources has done a bit better, from a starting point in July of 31 pence, the share price touched 70 pence and has since dropped back to finish the year on 44 pence.

Who knows where these companies shares price will be this time next year, but unless it has more than one oil discovery to its account, the Falkland Islands could be competing with offshore Namibia for the passionate punters money.

http://www.smallcapnews.co.uk/article/...as_RoundUp_2010_The_Falkland  

Thursday, March 17th 2011 - 05:30 UTC

FOGL has identified large prospects for exploration in the South Falkland Basin

London listed Falkland Oil and Gas says that its negotiations to secure a deep water rig are at an advanced stage as it seeks to drill the large prospects it has identified across the South Falkland Basin.

CEO Richard Liddell said 2010 was a “landmark year” for the company

The company said securing the rig was its key focus as it seeks to unlock the potential of its deepwater prospects and it was “looking forward with much anticipation” for the drilling campaign to get underway.

The announcement came as the company reported its full-year results for 2010, in what chairman Richard Liddell hailed a “landmark year” for the company.

It saw Falkland Oil and Gas drill the first exploration well in the East Falklands Basin. While the result of Toroa wasn't desirable, with the company failing to find hydrocarbons, it dubbed it an “attractive target for initial drilling” and said it had provided it with “valuable information to plan future wells”.

FOGL invested 21.8 million in its exploration program off the Falkland Islands, compared to 12.9 million the year before, which included 19.7 million to drill the Toroa wildcat.

On the Southern Licence area, having fulfilled the phase 1 work commitment with the drilling of Toroa, the second phase began at the start of December 2010.

Partner BHP Billiton elected not to enter the second phase and subsequently assigned its 51% of the southern licence area and operator-ship to Falkland Oil and Gas.

In order to garner further drilling options across its acreage, the company is currently undertaking a site survey program, covering a number of separate sites and two new prospects.

In addition, it may elect to acquire up to 1,300 kilometres of new 2D seismic data, using the same vessel.

The update came as the company said it had slashed its full-year pre-tax losses to 3.7 million US dollars from 5.5 million a year earlier.

Its cash balance stood at 69.8 million USD as of 31 December.

FOGL has contracted Gardline Ltd to undertake site surveys over its licensed acreage.

The Gardline vessel, Ocean Endeavour is currently on location in the South Falkland Basin and will survey a number of separate locations.

Five companies are currently involved in hydrocarbons exploration in Falklands’ waters: Desire Petroleum, Rockhopper Exploration, Borders & Southern, Argos Resources and FOGL.

http://en.mercopress.com/2011/03/17/...on-in-the-south-falkland-basin  

Rockhopper soars 35% on Falklands success, rekindling oil bonanza hopes


Hopes of an oil bonanza in the Falkland Islands have been rekindled after a positive update from Rockhopper Exploration, one of the companies drilling in the area.

Results from the Falklands - which still causes controversy with Argentina over ownership issues - have been mixed in recent times, with Desire Petroleum abandoning a well earlier this year after failing to find oil.

But Rockhopper said that an appraisal well at the Sea Lion discovery area had revealed a thick, high quality reservoir, a substantial oil column and the first oil-water contact in the licence so far.

Chief executive Samuel Moody said:

Following this positive result we believe Sea Lion is highly likely to prove commercially viable.

We can now continue to appraise the Sea Lion discovery and to explore additional prospectivity within our acreage with added confidence.

Following the tests, the Ocean Guardian rig will move to drill Desire's Ninky prospect where Rockhopper has a 7.5% interest before coming back to Sea Lion for more appraisal wells.

The news has sent Rockhopper's shares soaring 77p to 294p, up 35%, while Desire is up 3.25p to 40p, Argos Resources has risen 6% to 35.75p and Falkland Oil & Gas has climbed 4.5p to 84p.

On Rockhopper, David Farrell at Evolution Securities said:
After a period of unsuccessful exploration wells in the Falkland Islands today's news could well ignite renewed investor appetite.

We have de-risked Sea Lion by a further 10% which adds a little over 50p to our core and risked net asset value which now stands at 671p a share.
Charlie Sharp at Matrix was also positive:

This was a crunch well for Rockhopper; failure would have raised enormous questions about the viability of the Sea Lion discovery.

But the result appears to have matched or beaten expectations, raising the likelihood of a commercial development.

There are still significant obstacles related to the scale of project, the need for a partner (greater reserves and preferably another field would be helpful), infrastructure and political issues. However, today the story looks back on track.

http://www.guardian.co.uk/business/...hopper-soars-falklands-drilling
--------------------------------------------------  

http://www.moneyweek.com/investments/commodities/...gnites-13005.aspx

The Falklands oil story reignites By Tom Bulford Mar 29, 2011

Last week a successful drilling result from Rockhopper (LON:RKH) reignited the story of Falklands oil.

Shares in Rockhopper (RKH), having earlier hit 290p, closed the week 17% higher at 259p while those of the other Falkland oil plays Desire Petroleum (LON:DES), Falkland Oil & Gas (LON:FOGL) and Borders & Southern (LON:BOR) also edged higher.

Rockhopper's success follows a sequence of dry wells that have dulled the optimism of investors. But, "recent market concerns are overdone", says Merrill Lynch. With the exploration program for the south Atlantic far from over, investors certainly should not be giving up hope.

In fact, this latest well could finally establish the Falklands as an oil producing region - heralding a potential bonanza for penny share investors.

Rockhopper's new well could be worth over $2.5bn!
Rockhopper is the only one of the group so far to have made a genuine oil discovery, at its Sea Lion prospect. Although a subsequent independent review, disputed by Rockhopper, suggested that this could represent an exaggeration of some 30%, the best estimate for the amount of oil recoverable from Sea Lion stands at 242 million barrels.

This latest successful well was drilled 2.3km west-north-west of the original discovery and was the first such appraisal well designed to investigate reservoir presence and oil column at a downdip location. Although the oil bearing zone here was a little thinner than at the first well, the result confirmed the conclusions of seismic surveys. This allowed Rockhopper's Chief Executive Sam Moody to state that Sea Lion is "highly likely to prove commercially viable".

Could Toumaz finally start selling this year?

Shares in Toumaz (TMZ) hold steady at 7.25p on the announcement of full year results.

Their key product is the 'Sensium' digital plaster, which detects vital body signs such as heartbeat and relays this via a wireless connection to healthcare professionals.


After years of development Toumaz could see its first sales this year.
If so, this will finally establish the Falklands as an oil producing region and demonstrate that wildcat exploration can create real value for shareholders. Rockhopper's consultant RPS Energy has estimated that 170 million barrels of recoverable oil are worth $2.5bn, and that is on the basis of a reasonably conservative discount rate of 10% and oil at $80 per barrel.

In a presentation given in February, Desire Petroleum gave the estimates of its own consultant, Senergy. Again using a 10% discount rate, it calculated that a 150mmbl discovery would be worth $1.99bn at a $75 oil price and $3.17bn at $100.

Figures like these explain why investors have been willing to put up hundreds of millions of pounds for an exercise that has sometimes seemed like taking dollar bills down to the south Atlantic and scattering them in the ocean. So what comes next?

Who could be next to strike in the Falklands?
So far all the drilling activity has been in the North Falklands Basin, and conducted from the Ocean Guardian drilling rig. This has now moved to the Desire's Ninky prospect, where drilling has started and results should be known within 30 days. This is one of six wells for which Desire already has sufficient funding. Rockhopper, meanwhile raised £200m last October with which to drill new targets but also to do more appraisal work and field development plans at Sea Lion.

All of this is taking place in the North Falklands Basin, but progress has been slower in the South Falklands Basin. Here, the deeper waters require a different type of rig to the Ocean Guardian, and the two stock market plays are Borders & Southern and Falkland Oil & Gas.

Borders & Southern has contracted the Eirik Raude semi-submersible rig that will make its way to the Falklands on co  

RNS Number : 9855D
Falkland Oil and Gas Limited
31 March 2011



31 March 2011



Falkland Oil and Gas Limited

("FOGL" or "the Company")



Operational Update



FOGL, the oil and gas exploration company focused on its extensive licence areas to the South and East of the Falkland Islands announces further progress on its rig contract negotiations and certain changes to its licence arrangements.



Rig contract close to finalisation

Further to our announcement on 15 March, the company is close to finalising a rig contract for its deep water exploration programme.



Changes to licence arrangements

On 30 March 2011 FOGL signed a binding Heads of Agreement with our joint venture partner, BHP Billiton that provides for the exit of BHP Billiton from the Northern licence area once certain conditions have been satisfied, including approval of the Falkland Islands Government to both the assignment of BHP Billiton's 51% interest and transfer of operatorship to FOGL.



In relation to this withdrawal BHP Billiton will contribute towards the costs of drilling the Loligo well, by placing funds in an escrow account. The funds are to be drawn by FOGL against the costs of drilling the Loligo well. In the event that the Loligo well encounters hydrocarbons, BHP Billiton will have the option to back in to the Loligo development area only, for a maximum 40% non-operating interest in the discovery, in return for making a cash contribution to FOGL's future exploration and appraisal costs.  Such a reassignment of interests will also be subject to approval by the Falkland Islands Government.



The settlement with BHP Billiton will, together with other funds available to FOGL, provide FOGL with total cash resources of US$110 million. These cash resources will be sufficient to fund the Loligo well, other exploration expenditures and allow the Company to fulfil the Phase 1 work commitment of the Northern licence area.



Operations

FOGL is also considering additional drilling options. The site survey programme is progressing well, with surveys already completed on three locations. FOGL is considering the most appropriate means of financing and advancing these options and is in discussion with several parties that are interested in farming in to our licences.



Tim Bushell, Chief Executive of FOGL, said:



"We are pleased to have made good progress in our rig contract negotiations and to have reached an amicable agreement with our joint venture partner that gives FOGL control over its deepwater exploration programme, commencing with the drilling of the Loligo prospect".





Enquiries:



Falkland Oil and Gas
+44 (0) 207 563 1260

Tim Bushell, Chief Executive





Oriel (Nominated Advisor)
+44 (0) 207 710 7600

David Arch





Financial Dynamics    
+44 (0) 207 831 3113

Ben Brewerton / Ed Westropp











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

END  

THURSDAY, MARCH 31, 2011 AT 8:47AM

Falkland Oil and Gas (FOGL) is now up 12 percent to 90p on news that it is close to finalising a rig contract for its deep water exploration programme. Bhp billiton will contribute towards the costs of drilling the loligo well. The company now has total cash resources of US$110 million and is In talks for a farm in of is South Falklands basin acreage.

Good news for the company and Falkland Islands oil story after the bad news in 2010 that BHP were pulling out. FOGL's licences in the Southern basin are deep water so Desire/Rockhopper's Ocean Guardian rig cannot be used for the majority of it's prospects. A shallower well, Toroa, drilled in June 2010 proved to be a duster. Hopefully a new water rig can be drilling before the end of this year to maintain sentiment. The South basin is reckoned to have higher potential than the Northern basin where Rockhopper has made it's Sea Lion discovery.

Annoying to see RKH down again this morning yet again with the hot money flowing to DES and FOGL. As Buffett said "the stock Market is the transfer of wealth from the impatient to the patient!". Still frustrating to have bought back a little early. I'm desperately waiting for a cheque to clear in my SIPP to tuck RKH away in my pension fund.

http://contrarianinvestoruk.squarespace.com/  

http://www.thisislondon.co.uk/markets/...-billiton-quits-territory.do  

Thursday 19 May 2011



Falkland Oil and Gas Limited

("FOGL" or "the Company")



Rig Contract Confirmed


FOGL, the oil and gas exploration company focused on its extensive licence areas to the South and East of the Falkland Islands, announces that it has signed an assignment agreement and associated documents (together the "Rig Contracts") with Borders & Southern Petroleum plc.  ("B&S") and Ocean Rig 1 Inc. to contract the Leiv Eiriksson for two firm drilling slots. The rig is currently expected to arrive in the Falkland Islands in the fourth quarter of 2011.  FOGL expects to access the rig for the third and fourth slots in the combined B&S and FOGL programme and to commence drilling in the first quarter of 2012.  



As announced on 19 April 2011 the Company is currently funded for a deep well on Loligo, a prospect within the Tertiary Channel play which has estimated Pmean reserves of 4,700 mmbbls. The well will have an estimated duration of 50 days. Based on its latest cost estimates and assumptions, the Company also has sufficient funds for a second well on either Loligo (as an appraisal well), or on one of the other high ranked prospects such as Nimrod, Vinson or Inflexible.



As an alternative, FOGL is also considering options to drill the second well on one of the deeper Mid Cretaceous prospects such as Scotia (Pmean reserves of 1,060 mmbbls). Such a well would involve additional cost due to its greater total depth and the Company continues to explore options to provide additional financial flexibility around its drilling options. In particular, the Company would look to fund this additional cost principally via a farmout and it is currently in discussion with several parties who have expressed an interest in participating in our exploration drilling programme.



Further to the announcement on 19 April 2011 and, as a result of the signing of the Rig Contracts, the Placing and the RAB Arrangements have become unconditional other than in respect of admission to trading on AIM. Application has been made for admission to trading on AIM of 45,714,281 Placing Shares and 15,103,978 RAB Shares ("Admission"). Admission of the Placing Shares and the RAB Shares is expected to become effective in on around 24  May 2011, following which the Company will have 207,235,325 Ordinary Shares in issue.


http://www.fogl.com/fogl/templates/fogl/modules/...L.TK&ref=52941


Tim Bushell, Chief Executive of FOGL, commented:



"We are delighted to have secured the Leiv Eiriksson which, together with the successful completion of the Placing, positions us to drill two wells commencing in Q1 2012."  

http://www.igindex.co.uk/content/files/ukratings_31may2011_igiam.pdf  

Falkland optimistic on oil hopes
http://www.growthcompany.co.uk/news/1632513/...tic-on-oil-hopes.thtml
23/06/2011 Ben Jaglom

Falkland Island Holdings (FKL), the company whose interests vary from art to transportation has declared a resilient set of full-year results.

Underlying pre-tax profits at FKL stayed broadly flat at £2.73 million (£2.69 million) for the year to March on sales of £31.8 million (2010: £29.2 million.) The group operates a diverse number of companies. Falkland Islands Company - which operates a number of retail outlets in the Falklands and a fishing business declared a 20 per cent increase in sales to £14.9 million. At the Portsmouth Harbour Ferry Company, which operates a ferry service from Portsmouth to Gosport turnover stayed flat at £3.7 million.

FKL also runs a fine arts and antiques business, Momart, which declared a 44 per cent fall in operating profit from £950,000 to £530,000. In addition the group holds a 5.8 per cent stake in Falklands oil explorer Falklands Oil and Gas, which declined in value from £15.5 million to £10.7 million.

Speaking to Growth Company Investor chairman David Hudd argued that 'the effect of oil exploration gave a big stimulus to the economy.' Regarding the fishing side of the group, he noted that it was a poor season for catching illex squid, though as a whole the fishing market was 'significantly better' than last year. Concerning any potential military threat to the Falklands he insisted that it was 'inconceivable' that there would be a war with Argentina.

He added that the future of the company will be focused on hoping for success in oil exploration from companies such as Desire Petroleum and Rockhopper. In 2012 there will be more visibility on whether or not oil exploration efforts will succeed in the Falklands' adding that if successful it will have a 'transformational' effect on the islands. If not, 'we will have to go back to fishing' he conceded.

Following the results analysts at house broker Altium downgraded their EPS forecasts, maintained their pre-tax profit estimates and raised their turnover forecast for the year to March 2012. The broker is pencilling in adjusted pre-tax profits of £2.7 million on turnover of £33.4 million, with EPS of 20.3p forecast. A dividend of 10p a share is also expected.

Recommended by Growth Company Investor last June at 512.5p last June, the shares have since lost 40 per cent, currently trading at 305p. Much of the future prospects of the group rest on companies such as Desire, Rockhopper and Falkland Oil and Gas winning the confidence of the market in 2012, which is far from certain. Furthermore political risks remain in the Falklands, with the distinct possibility of some sort of armed conflict developing over the islands future. We therefore downgrade the shares to hold.

Tags: David Hudd, Falkland Islands Company, Falklands Oil and Gas, GCI downgrade, Momart, Portsmouth Harbour Ferry Company

Sector: Support Services

Companies: Falkland Islands Holdings  

http://bit.ly/k8V9zc

Falkland Island Holdings (LON:FKL) offers investors an ‘each was bet’ on Falklands exploration according to analysts at Altium Securities. Analyst Richard Bennett explained that if its 5.8 percent owned associate Falkland Oil & Gas (LON:FOGL) find commercial oil then FLK shares would see ‘substantial upside’.

But even if any of the other explorers, like Rockhopper Exploration (LON:RKH), establish a commercial oilfield then FLK’s other assets in the Falklands will also benefit from increased retail sales, property values, marine and other commercial services.

“Rockhopper’s oil finds to date look set to sustain drilling activity (and hence Falklands economic activity) in the medium term at least,” Bennett said. “We expect FOGL shares (and therefore FKL shares) to do well in anticipation of its drilling campaign which is scheduled to commence in Q1 2012.”  

Falklands : DEPARTMENT OF MINERAL RESOURCES REPORT FOR JUNE/JULY 2011
Submitted by Falkland Islands News Network (Juanita Brock) 17.07.2011 (Current Article)

Since the last report for the meeting held on 3 May 2011 Rockhopper Exploration has drilled and flow tested another appraisal well (14/10-5) on the Sea Lion field situated 400 metres from the discovery well (14/10-2). Press Releases from Rockhopper Exploration published the results from the well, and the flow test, where stabilised flow rates were recorded at 5,508 barrels per day.


DEPARTMENT OF MINERAL RESOURCES REPORT FOR JUNE/JULY 2011





By Phyl Rendell





Progress with the Offshore Drilling Programme





Since the last report for the meeting held on 3 May 2011 Rockhopper Exploration has  drilled and flow tested another appraisal well (14/10-5) on the Sea Lion field situated 400 metres from the discovery well (14/10-2). Press Releases from Rockhopper Exploration published the results from the well, and the flow test, where stabilised flow rates were recorded at 5,508 barrels per day.   The team at Rockhopper Exploration who were responsible for the flow test, particularly the engineering and logistics, are to be congratulated on achieving such a successful outcome.  They have demonstrated again that technically challenging activities can be overcome in a remote location.  The rig will move to a new appraisal location and spud well 14/10-6 next.  





Mr Ken Humphrey has represented Rockhopper Exploration in Stanley throughout the flow test and an independent observer was employed by Rockhopper Exploration to observe the flaring of hydrocarbons from a supply vessel to assess any environmental impact.  His report is the next item on the agenda.





Helicopters


 


The helicopter company, CHC Helicopters International Inc., has recently taken over the contract to move offshore crew to and from the rig using two Super Puma aircraft.  The company is based in Stanley and is using Stanley Airport facilities as an operating base.  British International Helicopters (BIH) have done an excellent job since the Ocean Guardian arrived here in February 2010 and CHC are equally welcome as an operating company in the Falkland Islands.      








2D and 3D Seismic Surveys





The survey vessels, Polarcus Nadia and Polarcus Asima, completed their integrated 3D survey programmes in the North Falkland Basin for Argos Resources, Desire Petroleum and Rockhopper Exploration by the end of May.  Argos Resources announced the completion of the survey over their licensed acreage in mid April and they have had some data fast track processed.  Their press release of 5 July mentions that more of their data will be fast tracked due to the good results from the first package.  Desire Petroleum and Rockhopper Exploration are similarly having data processed as soon as it is available in order to assist them to indentify additional structures that may be ranked significant enough to drill.





Falklands Oil & Gas Limited (FOGL) contracted the Gardline vessel Ocean Endeavour in February to acquire 2D seismic and environmental data over a number of drilling prospects in their acreage. The programme ended mid June after all the planned survey   locations were completed and some 2D data had been acquired.  The information acquired from the surveys will be incorporated into an Environmental Impact Statement (EIS) that the company plan to submit to FIG in August in preparation for drilling the Loligo well.





Weather conditions were particularly trying for the vessels in late summer and a report on seismic data acquisition will be presented at this meeting.








Argos Resources Environmental Impact Statement (EIS)





Argos Resources has submitted an Environmental Impact Statement (EIS) to the Falkland Islands Government (FIG) in preparation for drilling wells in their acreage.  The EIS document is available from the Department of Mineral Resources to anyone wishing to read it.  Argos Resources held public meetings, led by their Chairman, Mr Ian Thomson, in Stanley and Port Howard during the consultation period where they explained their drilling plans. The company has until 13 July to respond to written comments.  The Environmental Planning Officer will draw up a report, taking into account the written comments received and an external review that was conducted for FIG.  He will present his report to the next meeting of the Mineral Resources Committee and recommendations will then be forwarded to Executive Council.








Change of Rig for the Southern Basin Drilling Programme.





Borders & Southern Petroleum (BSP) announced on 6 May that the rig company, Ocean Rig, would be supplying the Leiv Eiriksson to drill their two firm wells in place of the Eirik Raude.   The Leiv Eiriksson is currently drilling wells in western Greenland and is due to arrive on location in the Falkland Islands by the end of the year.   Falklands Oil & Gas Ltd (FOGL) has also announced that they have agreed a contract with BSP to use the rig to drill two wells.   One of their drilling locations is in on the structure called Loligo.  








Oil and Gas Development Group Underway





One of the actions from the Economic Development Strategy was to establish a working group to review policies and regulations to ensure that the Falkland Islands economy can gain maximum benefit from oil and gas exploration activities.  The Oil and Gas Development Group, with representation from the private sector, FIG, FIDC and the oil industry is meeting monthly in order to make recommendations where necessary to add value to current activities.  





Offshore Hydrocarbon Environmental Forum





Further to the preliminary work carried out by the Mineral Resources Department, the Environmental Planning Department has taken the Forum forward by consulting stake -holders on the appointment of a chairperson.  After advertisement in Penguin News names are to be considered at a meeting this week for possible appointment.  The work of the Forum can then begin with agreeing the terms of reference for the Forum and priorities for discussion at a future meeting.


   





Oil Company Visitors  





There have been numerous visits to the Islands by oil company consultants, particularly in relation to Rockhopper Exploration’s flow test programme and BSP’s drilling plans.  In addition, Mr Eddie Wisniewski, Desire Petroleum’s Finance Director and Mr Ken Black, Exploration Director, visited the Islands in early May and gave a presentation to the Mineral Resources Committee.   Later in May Mr Peter Dixon-Clarke, Rockhopper Exploration’s Finance Director and Mr Paul Culpin, Development Director, spent time in Stanley and held a very well attended public meeting, presenting the development concept of using Floating Production Storage & Offloading facilities (FPSOs) for oil production.  





Due to disruptions with flights from volcanic ash, both a visit by BGS consultant, Dr Phil Richards and FOGL representatives, had to be postponed.  FOGL will make their visit now at the end of July.



http://sartma.com/art_8870.html

Use of Charter Flight seats during Volcanic Ash Cloud





Rockhopper Exploration is to be thanked for arranging for around 100 stranded passengers to travel north on their charter flight prior to finalising arrangements for passengers to book flights, after three consecutive airbridge flights had been cancelled due to the volcanic ash cloud over the South Atlantic.  

Falkland Oil & Gas
The billion-barrel oil hunters
Created: 22 July 2011 Written by: Martin Li
http://www.investorschronicle.co.uk/Features/...arrel-oil-hunters.jsp



Borders & Southern (BOR)/Falkland Oil & Gas (FOGL)
The Falklands oil story continues to fascinate, even though last year's drilling campaign in the North Falkland basin returned just a solitary discovery for Rockhopper Exploration, leaving fellow explorer Desire Petroleum close to ruin.
While Rockhopper continues to appraise its Sea Lion strike – recent confirmation of commercial flow rates is encouraging – attention is turning to the largely unexplored South Falkland basin. The prospect sizes here are an order of magnitude larger than those in the north, although the targets are more remote, water depths are greater and the lack of previous drilling heightens geological risk. After years of trying to contract a suitable rig, Borders & Southern secured use of the Leiv Eriksson, an ultra-deep water, harsh-environment rig of which there are only around a dozen in the world. This will sail for the South Atlantic once it has completed drilling in Greenland this summer for Cairn Energy. Borders expects to drill the first of two exploration wells in late December, after which Falkland Oil & Gas (FOGL) will drill two exploration wells next year.
Borders chief executive Howard Obee highlights several factors that mitigate the otherwise significant risks of exploring a 'wildcat' frontier. Geophysical signatures provide strong indications of hydrocarbons while three-dimensional (3D) seismic surveys help pinpoint optimum drilling locations along a trend that stretches west from Borders' acreage to a basin that has produced 6bn barrels of oil.
Borders will first drill the Darwin prospect, which has an estimated size of 300m-760m barrels of oil recoverable, and then the Stebbing prospect, which is estimated at 710m-1,280m barrels recoverable. Between them, these two wells will target nearly $20bn of value.
Following the two Borders wells, FOGL will drill its Loligo prospect and then a second well still to be decided. To give an idea of prospect scale, FOGL’s chief executive, Tim Bushell, says the Loligo structure covers an area the size of Greater London. Loligo has estimated mean prospective resources of 4.7bn barrels, although recoverable oil, for comparison with the Borders prospects, will be lower.
The chief executives caution that any discoveries will need to be at least 100m barrels of oil (and any gas discoveries will need to be multiple trillions of cubic feet) to stand any chance of being commercial. Mr Obee adds that each discovery will need to be commercial on a standalone basis since each is likely to be developed using a floating production and storage vessel rather than through a platform that could be shared. Nevertheless, these four wells could open up a new petroleum province with multi-billion barrel potential and investor interest will inevitably heighten through the autumn.

--------------------------------------------------  

http://www.fogl.com/fogl/en/Media/pressreleases?id=105

Erste Vorboten wie es weiter geht, wenn erst der erst Drill anläuft:

58,50 GBP  +5,75 GBP  10,90 %  Umsatz: 2,04 Mio St.  

Falkland Islands: The New North Sea?
By: Evaluate Energy | Sep 20, 2011 | Stocks: BP, CVX,
http://www.istockanalyst.com/finance/story/...lands-the-new-north-sea


In a remote corner of the South Atlantic, nearly 8000 miles from the UK, lies the self-governing British Overseas Territory of the Falkland Islands. Whilst for many people the islands are associated with a barren inhospitable landscape with a few sheep and even fewer people, a fledgling oil industry may be starting to take shape.

This week saw the announcement by Rockhopper Exploration, one of five British oil companies with operations in the Falklands, of continuing success in its exploration and appraisal programme of the Sea Lion discovery. This was the first confirmed oil discovery of the region, and the company now estimates the field to hold 325mmbbls of recoverable oil based on its mid estimate. Could it be that this remote area is starting to realise its much debated potential, estimated by the British Geological Society to hold billions of barrels of oil.

Background to Current Campaign

The prospect of the Falkland Islands developing into a major oil producing region has captured the imagination of geologists and investors alike for decades. For many, the area has significant potential as a new ‘North Sea', bringing opportunities for oil and services companies for years to come. The exploration area surrounding the Falklands to which the UK has a territorial claim is some fifty percent larger than the UK's portion of the North Sea. In fact, despite being thousands of miles apart there are many similarities between the two. Environmental conditions and water depth are comparable to those west of the Shetland Islands, whilst in terms of geology the basins of the Falkland Islands possess structures similar to those found in the North Sea. The exploration area itself is separated into the geologically distinct North Basin, where the Sea Lion discovery was made, and the South Basin where fellow explorers Falkland Oil & Gas and Borders and Southern Petroleum intend to embark on the own campaign from the end of 2011 having secured an additional rig.



Despite the recent success, there are still those who doubt the Falkland Islands will ever see large scale oil production. One reason for this is the largely unsuccessful drilling campaign carried out by Majors including Shell, Hess and Lasmo in 1998. Six wells were drilled, with only one returning live oil to the surface in small amounts. Faced with high exploration costs, and a depressed oil price of approximately $10 a barrel, it was difficult to make an economic case for continued activity in the area, at which point the companies pulled out. Over the next decade a new round of licenses were handed out to several small British companies, each with only a handful of full-time employees. After a long period of little activity, the Falklands Oil dream sprung back to life with the contracting of the Ocean Guardian rig by Desire Petroleum.

Following a much hyped resumption of drilling activities in February 2010, the first well ‘Liz' produced disappointing results, and it seemed that the region was destined never to realise its potential. That is, until the results of Sea Lion were known.
Meanwhile, whilst drilling activity continues, the protests from Argentina rumble on in the background. Critics point out that the Falkland Islands are often used by the Argentine government to divert attention away from domestic failures. This was the case in 1982 when Galtieri, leader of the Military Junta at the time, launched an invasion of the islands in the face of failing domestic popularity and an economic crisis. This time around, after unilaterally tearing up an agreement on oil sharing revenues in 2007, the Argentine government has once again begun to re-assert its claim to sovereignty. At a UN summit in Mexico in 2010, the country won unprecedented support from other Latin Ame  

http://www.bloomberg.com/news/2011-09-22/...res-in-2012-ceo-says.html

Falkland Oil Delays Drilling, May Sell Stock If Well Successful, CEO Says
By Laura Price and Brian Swint - Sep 22, 2011 6:11 PM GMT+0200 inShare0More
Business Exchange Buzz up! Digg Print Email Enlarge image  
Falkland Oil Delays Drilling Loligo, May Sell Shares in 2012  Ocean Rig/Cairn Energy Plc via Bloomberg
The Leiv Eiriksson, owned by Ocean Rig ASA, is currently drilling for Cairn Energy Plc in Greenland.

The Leiv Eiriksson, owned by Ocean Rig ASA, is currently drilling for Cairn Energy Plc in Greenland. Source: Ocean Rig/Cairn Energy Plc via Bloomberg
Falkland Oil & Gas Ltd. (FOGL), a U.K.- based explorer in the South Atlantic, delayed the start of drilling at its Loligo well and may sell stock late 2012 if the well is successful, Chief Executive Officer Tim Bushell said.

The company will probably start drilling the first well at Loligo, southeast of the Falkland Islands, in April instead of the first quarter as it expects to receive the Leiv Eiriksson rig more than a month later than planned, Bushell said today.

Loligo, located to the east of the islands Margaret Thatcher went to war to keep British in 1982, holds as much as 5 billion barrels, Bushell said. Borders & Southern Petroleum Plc (BOR) will drill two wells early next year before passing the rig to Falkland Oil, while Rockhopper Exploration Plc. (RKH) has made the first commercial find near the disputed islands off Argentina.

“We’ve waited seven years” since the company was founded in 2004, said Richard Rose, an analyst at Oriel Securities Ltd. in London. “So we can afford to wait a bit longer. The prospects are clearly exciting, they are high risk, very large. We’ll see what happens. They’re ready to drill.”

Falkland Oil fell 4.7 percent to 55.25 pence as of the 4:30 p.m. London close. The shares have dropped 47 percent this year.

The company may sell more stock later in 2012 to raise funds for seismic tests if it discovers hydrocarbons, Bushell said. Falkland Oil is also in talks with potential partners to share the cost of drilling a second well, he said, declining to identify companies by name.

Well Funding
Falkland Oil has $160 million of available funds, enough to drill two wells. The company wants to invest in 3D seismic tests, which cost about $100 million for a large survey and would be about $50 million to $60 million for Loligo, he said. The company aims to drill further wells in 2013 depending on the success of next year’s program, he said.

“I’d be most surprised if all four wells come up completely blank,” Bushell said. The rig is contracted to drill two wells for Borders & Southern, two for Falkland Oil, and a fifth well that both companies have the option to drill.

Falkland Oil failed to find hydrocarbons after drilling its first well, Toroa, in July 2010. Loligo, named after a type of Patagonian squid, is one of the prospects in Falkland Oil’s acreage, which is as vast as the U.K. North Sea, Bushell said.

Scotia, Vincent, Nimrod
Depending on Loligo’s exploration results, Falkland Oil plans to drill either Scotia, which may hold about 1 billion barrels of oil equivalent, Vincent, which may have about 733 million barrels, or Nimrod, with 1.5 billion barrels, Bushell said. To be commercially viable, the wells need to contain 200 million barrels of oil equivalent, he said.

The Leiv Eiriksson, owned by Ocean Rig ASA, is currently drilling for Cairn Energy Plc (CNE) in Greenland. The contract has been extended to the end of November, and the rig should arrive in the Falklands by early January, when it will be used by Borders & Southern, Bushell said.

Argos Resources Ltd. (ARG) and Desire Petroleum Plc (DES) and are also exploring near the Falklands. Argentina claims sovereignty over the area and is protesting the drilling by forbidding vessels to load cargo at its ports. The Falkland Islands has said no Argentine company will be given a license  

Falklands : Falkland Islands Offshore Hydrocarbons Environmental Forum Holds Successful First Meeting
Submitted by Falkland Islands News Network (Juanita Brock) 08.10.2011 (Current Article)
http://sartma.com/art_9160.html


The Falkland Islands Offshore Hydrocarbons Environmental Forum held their first meeting on 27th September in the Chamber of Commerce.

Falkland Islands Offshore Hydrocarbons Environmental Forum Holds Successful First Meeting





By J. Brock (FINN)


The Falkland Islands Offshore Hydrocarbons Environmental Forum held their first meeting on 27th September in the Chamber of Commerce. Comprising of representatives of the oil industry, environmental organisations and relevant Falkland Islands Government departments, the Forum met to provide a means for structured formal and informal consultation on proposed and on-going hydrocarbon exploration and production activities that may affect the natural environment in and around the Falkland Islands


Phyl Rendell as Forum Chair and Andrea Clausen as Deputy Chair were elected at the first meeting. Terms of Reference for the Forum were agreed at the meeting and are available to the public. Members of the Forum agreed that meetings would be held every six months and in private to allow for frank discussions. A synopsis of the minutes will be made available to the public with an opportunity for the public to submit questions in writing to the Forum for consideration.


FOGL Presentation


Representatives of Falkland Oil and Gas Ltd (FOGL), led by CEO Tim Bushell gave a presentation on the Environmental Impact Statement they have recently produced for their upcoming drilling programme in the South and East Falkland basins. FOGL and Borders and Southern Petroleum intend to share the Leiv Eiriksson dynamically positioned rig to drill a total of four wells, with drilling beginning in early 2012 and extending for about 6 months. The FOGL EIS is currently available from the Mineral Resources Dept for public comment.


Rockhopper Exploration Presentation


Neil Booth gave a verbal presentation on current environmental monitoring projects being conducted in support of Rockhopper Explorations’ on-going hydrocarbons exploration work in the North Falkland basin . Neil highlighted Rockhopper’s recent placement of an independent seabird and marine mammal observer on support vessels during well testing in June 2011. He also noted ongoing collaboration with the FIG Fisheries Department through the sharing of Remote Operated Vehicle (ROV) benthic sampling videos. This study is utilising ROV video footage from each well location and hopes to provide information on three topics including assistance to gain a better understanding of the extent of loligo spawning grounds off East Falkland.


It was agreed that the seismic survey observer reports of Desire, Argos, Rockhopper would be circulated to Forum members.


Falklands Conservation Research





James Fenton Chief Executive Officer of Falklands Conservation gave an update on recent and upcoming Falklands Conservation research of potential relevance to the oil industry. This includes satellite tracking of King, Gentoo and Rockhopper Penguins as well as the ‘Protected Areas Project’ beginning in October. He also noted several project applications and the tracking work being undertaken on Gentoo and Rockhopper Penguins on New Island as well as ongoing tracking work on Elephant Seals on Sea Lion Island.


Data gaps – data required to better inform oil industry


A section of the meeting was devoted to the discussion of gaps in baseline environmental data required to better inform on offshore hydrocarbons activity. A working group has been formed under the leadership of Paul Brickle to define the scope of work for a gap analysis to begin the formal recognition of data gaps relating to seabirds, marine mammals, fish species and other sensitive environmental features and formulate a discussion paper for next the Forum meeting in March 2012.


Further Information


For further information on the Forum or to submit a question please contact the Nick Rendell at the Environmental Planning Dept on tel; 28480, or email; nrendell.planning@taxation.gov.fk  

Monday, Nov 21 2011 by Fox Davies Capital

http://bit.ly/spIUh3
Oil & Gas Corporate News

Falkland Oil and Gas Limited (BUY 250p) (FOGL LN, 62p, ▼ 3.38%) provided an operational update: Leiv Eiriksson rig is expected 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; The Company may also consider drilling the Inflexible prospect if the results of the well drilled by Borders & Southern Petroleum plc on their Darwin prospect are encouraging; Well planning is also now at an advanced stage, the 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 the Company also reported that an assignment agreement for the Northern licence area has been signed by FOGL and BHP Billiton, whilst finalising this agreement it was agreed that BHP Billiton would not to have the option to farm back into the Loligo development area  

Strategy

•FOGL seeks to add shareholder value by pursuing an aggressive exploration programme in its licences to the south and east of the Falkland Islands. Exploration drilling will continue in the deep water areas of FOGL’s licences in the first half of 2012. If successful, this drilling could lead to the development of a new hydrocarbon province in the South Atlantic.  
Next Phase of drilling

In the first half of 2012 FOGL is planning to drill two wells in the deep water area of its licences.
FOGL has contracted the Leiv Eiriksson rig to undertake this drilling programme. The rig is due to arrive in the Falklands in early 2012 when it will initially drill two wells for Borders and Southern Plc (B&S), before commencing the FOGL drilling programme. The B&S wells are to be drilled on the Darwin and Stebbing prospects. The results of these wells will be of interest to FOGL, because we have similar plays and prospects within the southern part of our licence area.

The first well to be drilled in the FOGL programme will be on the Loligo prospect. A number of options exist for the second well, including potentially a well on Scotia, a prospect within the Mid Cretaceous Fan Play. The final decision on which prospect will be targeted by the second well will be guided by the results from Loligo.

Funding

As at 7 September 2011 FOGL's available funds, including the BHP Billiton settlement, were $150.8 million. The Company is debt free.