Falklands : FOGL Extends 2D Seismic Programme
Submitted by Falkland Islands News Network (Juanita Brock) 09.09.2005 (Article Archived on 23.09.2005)
Falkland Oil and Gas Limited have extended their 2D seismic survey area.
FOGL EXTENDS 2D SEISMIC PROGRAMME
By J. Brock (FINN)
Falkland Oil and Gas Limited (FOGL) have announced that it has taken up the option, reported in its AGM on 20 July, to extend its 2D survey by a further 7,000 km. Previously they had been planning a 2D seismic survey on 8,000 km, so this means the total area to be surveyed is 15,000 km., with FOGL’s 2D seismic survey, commencing in June 2005.
GSI Admiral, already at work on the Falklands project, has been commissioned by FOGL to undertake the additional survey.
FOGL’s objective was to define 20 drillable projects from the numerous leads identified when it completed a 9,450 km 2D seismic survey. Now, with 15,000 km to survey, FOGL want to identify 50 key leads that already have been identified. To identify the drillable projects, most of the new lines will be closely spaced at approximately 2 km apart. This will enable a detailed mapping of projects.
The 15,000 km project is split approximately 6,000 km over the 2002 licence area and 9,000 km over the 2004 licence area.
4,560 km of this survey has been recorded to date, with the whole survey expected to be completed late in 2005 or early in the New Year. The Company anticipates that the results of the survey will be processed in the first half of 2006.
Once the 15,000 km survey is finished, FOGL intends to carry out a 3D seismic survey in areas of highest interest.
Commenting on the announcement, Mr. John Armstrong, the Executive Chairman of FOGL said, “We have undertaken a vast amount of seismic surveying since our IPO and the results continue to be encouraging. This 2D seismic contract extension will further enable us to define the full potential of our assets. And, together with the planned 3D survey will enable us to identify our 20 drillable prospects.”
|
