FOGL Spuds Loligo Exploration Well (Falkland Islands)

FOGL, the oil and gas exploration company focused on its extensive licence areas to the South and East of the Falkland Islands, has announced that the Loligo exploration well 42/07-01 was spudded on Friday 3 August 2012.

The well, being drilled by the the Leiv Eiriksson semi-submersible drilling rig, is located approximately 200 km east of the Falkland Islands.

FOGL is the operator of the well, holding a 75% interest, together with its joint venture partner Edison International Spa, who hold the remaining 25% interest in licence PL028. It is the first of a two well exploration programme using the Leiv Eriksson semi submersible drilling rig.

The well is designed to test the Loligo Complex, which is a large Tertiary aged stratigraphic trap with multiple reservoir objectives. It is anticipated that the well operations will be around 60 days.

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Press Release, August 6, 2012