FOGL announced Final Results for the year ended December 31, 2010.
Richard Liddell, Chairman of FOGL, said, "2010 was a landmark year for FOGL in which we drilled our first well, the first exploration well ever drilled on the East Falklands Basin. We were pleased that the well was drilled on budget and without incident.
"Our focus is now on securing a suitable deep water rig to enable us to drill the large prospects we have identified in the deep water areas of our licenses. Rig contract negotiations are at an advanced stage and we will make a further announcement when appropriate.
"Meanwhile, we have commenced further work in order to broaden the range of potential targets for the deep water drilling program."
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