falkland oil & gas ltd (FOGL) Snapshot

FOGL provided following operations update with respect to the ongoing 3D seismic programme. The PGS M/V Ramform Sterling has completed a 3D seismic survey over the Cretaceous Fault Blocks within FOGL's Southern Area Licenses. A total of 1,018 square kilometers of full fold seismic data have been acquired. This survey was designed to target a number of prospects and leads immediately to the west and north-west of the Darwin gas-condensate discovery. The survey was operated by Noble Energy on behalf of the Joint Venture, which also includes Edison International Spa. The survey was completed within budget. The data will now be processed by PGS and a fast track product will be available for interpretation in approximately two months. It is anticipated that the final processed data will be available in the fourth quarter of 2013. The fast track data will be used to commence prospect mapping and the selection of well locations.

Falkland Oil and Gas Ltd. reported audited earnings results for the ended December 31, 2012. For the year, the company reported profit for the year before taxation and profit for the year was $1,051,000 against loss for the year before taxation and loss for the year of $6,637,000 a year ago. Net cash outflow from operating activities was $1,399,000 against $4,313,000 a year ago. Purchases of property, plant and equipment was $24,000 against $30,000 a year ago. Expenditure in respect of intangible assets and inventory was $45,880,000 against $24,801,000 a year ago.

Falklands Oil & Gas Limited Presents at 12th Annual Oil & Gas 1-1 Investor Forum, Apr-15-2013 . Venue: The Grove, Chandler's Cross, Rickmansworth WD3 4TG, Herefordshire, United Kingdom.