Third 3D Seismic Survey Begins Southeast of Falkland Islands

Falkland Oil and Gas (FOGL) reported Friday that a third 3D seismic survey has begun over its license areas to the south and east of the Falkland Islands in the South Atlantic.

FOGL reported that the PGS Ramform Titan has begun the seismic survey over the mid-Cretaceous Hersilia fan complex within the northern area licenses. The survey, which is operated by Noble Energy, could take up to four months to complete, FOGL said.

The firm that fast-track data from the two 3D seismic surveys already completed earlier this year has been received, and that interpretation of this data is ongoing.

FOGL said preliminary work on the data has already identified a number of large prospects within the Diomedia fan complex. The new data is also enhancing the firm's understanding of potential prospects within the Fault Block area, adjacent to the Darwin discovery.

A full assessment of all the prospects covered by both surveys will be undertaken using the fully processed 3D data expected to become available in January 2014. The interpretation results should be available by the end of the first quarter 2014.

FOGL Chief Executive Tim Bushell commented in a company statement:

"This is our final survey prior to the commencement of drilling operations in late 2014.  Upon completion we will have acquired over 10,000 square kilometers of high quality 3D data, which is equivalent in area to over 40 North Sea blocks. This illustrates both the scale of our assets and the commitment of the joint venture to the ongoing exploration program."

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