24th Feb 2014 12:57
LONDON (Alliance News) - Falkland Oil & Gas Ltd Monday said a 3D seismic survey over the Cretaceous Hersilia Fan complex within the company's Northern Area Licences has been completed.
The oil and gas exploration company, said a total of 5,747 square kilometres of full fold seismic data has been acquired by the Petroleum Geo-Services ASA's M/V Ramford Titan vessel.
Falkland said the survey, which was completed on budget, was designed to target a number of prospects and was operated by Noble Energy Inc on behalf of the joint venture partners on site.
The company said the data will now be processed by PGS and a fast track product should be available for interpretation in roughly three months, with final processed data available in the third quarter 2014.
Falkland said the data would be used to commence prospect mapping and the selection of well locations. This is the third and final 3D survey prior to the next drilling programme, expected to commence in early 2015.
The company said the joint venture has now acquired 12,000 square kilometres of high quality 3D seismic data and is very encouraged by the results of the first two surveys.
The northern area licences are 40% owned by FOGL, 35% owned and operated by Noble, and 25% owned by Edison International SpA.
Falkland Oil & Gas shares were up 3.3% to 26.60 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
FOGL.L