Home | Site Map | Glossary | Contact us | Search:  
  Falkland Oil and Gas        
 
 Operations 
 Work Programme 2008/9 
 Site Survey 
 Drilling 
 Work Programme 2006/7 
 CSEM Survey 
 Ph. III 2D Infill Seismic Survey 
 Seabed Coring 
 Work Programme 2005/6 
 Rig Options 
 Progress Reports 
 Leads & Prospects 
 Falkland Islands 
 TRACS Report 
  
  
Home > Operations > TRACS Report
Share price information
 
 at  on 
Full share price details
TRACS Competent Person's Report
Printable versionPrintable version

On 10 October 2006 - TRACS International completed a "Competent person's report" on the Company's Prospect Portfolio as at 31 August 2006, in the East Falkland and South Falkland Basins.

TRACS' evaluation provided the following summary of FOGL's risked / unrisked Net prospective resources:

Classification Unrisked Net Volume Risked Net Volume
Low Est Best Est. High Est. Low Est. Best Est. High Est.
  MMbbls MMbbls MMbbls MMbbls MMbbls MMbbls
Prospective Resources 5202 10089 20148 435 863 1761

TRACS Estimates of Unrisked and Risked Prospective Net Resources to Falkland Oil and Gas Ltd.

Download the full report here

FAQ: What does "Unrisked net volume" vs "Risked net Volume" mean?

"Risk" is the risk associated with the prospect of finding a volume of hydrocarbons that is within the volumetric range (e.g. 10-100 million barrels) specified for that particular prospect. 

For example: if the risk of finding hydrocarbons in that range is assessed at 20% and the prospect volume is 100mmbo then the risked volume is 20mmbo.  If FOGL’s share on the licence is 77.5% then FOGL net risked volume is 15.5mmbo.

"Unrisked" means the risk (as defined above) is not taken into account when calculating the potential net volume of hydrocarbons specified for the particular prospect.

"Net" means net to FOGL.

 

 

 
 
 
      © Falkland Oil and Gas Limited 2008 | Disclaimer | Links | Privacy Statement