8th Nov 2013 10:27
LONDON (Alliance News) - Falkland Oil and Gas Ltd Friday said it has started the third 3D seismic survey of its northern area licences in the Falkland Islands.
The oil and gas exploration and development company with operations in the Falkland Island Basins said the PGS Ramform Titan ship has begun the survey over the mid-Cretaceous complex, which could take up to four months to complete and is being operated by Noble Energy Inc.
Falkland Oil & Gas also said that data from its two 3D seismic surveys completed earlier in 2013 has been received and interpretation is ongoing, but that the preliminary work has identified a number of large prospects.
The company said a full assessment of the prospects covered by both surveys is expected to be available in January 2014 with interpretation results expected to be available by the end of the first quarter 2014.
Falkland Oil and Gas shares were down 0.9% to 28.25 pence Friday.
By Tom McIvor; [email protected]; @TomMcIvor1
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