A contract for the Leiv Eiriksson drilling rig has been signed for two slots. The rig arrived in the region in early 2012 and FOGL expects to spud its next exploration well, on the Loligo prospect, in Q2 of 2012. FOGL estimates that the Loligo prospect has mean, gross, unrisked prospective resources (recoverable hydrocarbons) of 4.7 billion barrels.
Falkland Oil and Gas Limited is listed on AIM, a market operated by the London Stock Exchange. (Symbol FOGL).