FOGL seeks to create transformational shareholder value by pursuing a successful exploration programme in its licences around the Falkland Islands. FOGL is also focused on the prudent use of shareholder funds and aims to spread the exploration risk by partnering with other oil companies to maximise the companys capital resources.
The Ocean Rig owned Eirik Raude (a deep-water harsh environment semi-submersible rig) has been contracted by our partners Noble Energy and Premier Oil for a multi-well drilling programme commencing in early 2015. It is expected that FOGL will participate in at least five wells in this next campaign.
FOGL has sufficient funds for its share of the planned 2015 drilling programme and is either partially or fully carried on four out of five wells.