Falkland Oil and Gas : Isobel Deep Well Spud

Falkland Oil and Gas Limited



9 April 2015

Falkland Oil and Gas Limited

("FOGL" or the "Company")

Isobel Deep Well Spud

Falkland Oil and Gas Limited (AIM:FOGL), the oil and gas exploration company focused on its extensive license areas to the North, South and East of the Falklands islands, is pleased to announce that the 14/20-1 'Isobel Deep' exploration well (the "Well") was spudded, by Premier Oil as operator, on 8 April 2015.

The well is located on licence PL004a, in which FOGL has a 40% working interest and will primarily target the Isobel Deep prospect. The well will test the F3 fan systems, which are mapped as entering the basin from the south east margin and comprise a sequence of stacked reservoirs. The Isobel/Elainecomplex is estimated to contain m id case un-risked gross prospective resources, based on the operator's estimates, of 243 mmbbls (97 mmbbls net to FOGL).

The well is anticipated to take approximately 30 days to drill and no coring or testing is planned for this well. A further release will be issued once logging is completed. FOGL is carried through the costs of this well by Premier Oil and Rockhopper Exploration.

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For further information:

Falkland Oil and Gas Limited Tim Bushell, Chief Executive	[phone]
RBC Capital Markets (Nominated Advisor and Joint Broker) Matthew Coakes / Daniel Conti	[phone]
Numis Securities Limited (Joint Broker) John Prior / Ben Stoop / Paul Gillam	[phone]
FTI Consulting Ed Westropp / George Parker	[phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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