Falkland Oil and Gas Limited

FOGL is currently evaluating the results of the two wells driled in 2012 and their implications for future exploration. A major 3D seismic acquisition programme is currently underway, which will primarily focus on the deep-water Mid Cretaceous fan play (Diomedea and Hersilia fan complexes). In additiona, 3D seismic will also be acquired over the Mid Cretaceous fault play, adjacent to the Darwin gas-condensate discovery and over at least part of the Loligo gas discovery. The aim of the 3D programme is to identify suitable drill targts (prospects) and locate the most promising areas in terms of reservoir quality and likelihood of finding oil.

The joint venture also intends to contract a suitable deep-water rig to commence in the second half of 2014 and to drill up to four wells.

Falkland Oil and Gas Limited is listed on AIM, a market operated by the London Stock Exchange. (Symbol FOGL).

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