Falkland Oil and Gas Ltd, abbreviated to FOGL, was an energy company registered in the Falkland Islands and headquartered in London, the United Kingdom. Its business was based on exploring for offshore oil reserves off the coast of the Falklands. It owned the right to extract oil from a number of blocks to the east and the south of the islands.
FOGL was listed on the Alternative Investment Market of the London Stock Exchange. The company issued an initial public offering on 14 October 2004, debuting at a price of 40p. By 2010, FOGL estimated that its four best prospects could contain , with up to in total in all sectors off the coasts of the Falklands. The share price peaked at 267p in June 2010, but slumped by half on 12 July 2010, when it was found that one of its prospect wells, Toroa, was empty. As of 1 March 2015, the share price had dropped to ~31 pence.
The company merged with Rockhopper Exploration on 18 January 2016.
Operations North Falkland Basin in millions (106) barrels and cubic metre of oil equivalent. Prospect Name Estimated Resources () Estimated Resources () Start date Results and/or notes Zebedee April 2015 40 percent owned by Falklands Oil and Gas, 36 percent by Premier Oil and 24 percent by Rockhopper Exploration. On the 2 April, during the first of the 4 planned wells at Zebedee a 27.9 meter oil reservoir and 18.5 meter gas reservoir was found (this was better than expected.) Isobel Deep May 2015 Jayne East June 2015
South and East Falkland Basin in millions (106) barrels and cubic metre of oil equivalent. Prospect Name Estimated Resources () Estimated Resources () Start date Results and/or notes Humpback July 2015 Part of Diomedea fan complex. WI 52.5% / PI 27.5%. Net prospective resources 268 Million barrels. Operator Noble energy (35%), Partner Edison (12.5%) Stingray Part of Diomedea fan complex. Requires success at Humpback. Operated by Noble Scharnhorst North Q1 2015 Part of Fault Block Area. Noble operated Starfish Q1 Part of Hersilia Fan Complex. Operated by Noble Well 2 about August 2015 Scotia November 2012 Gas shows - proven working hydrocarbon system but poor quality reservoir Loligo September 2012 Gas bearing zones but poor quality reservoir Toroa July 2010 Dry - but excellent Cretaceous reservoirs
Legal issues Due to the ongoing disputed nature of the Falkland Islands, FOGL received criticism from Argentina. On 30 April 2014 FOGL announced the following in their annual report;
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