Falkland Oil and Gas Limited Purely focussed on exploration offshore the Falkland Islands Geographic Only Falkland explorer operating in both the North & South Basins Focus Largest licence holder of all Falkland explorers South…
Only explorer operating in both the North & South Basins Net interest of over 40,000 sq. km Material interest (40%+) in all licences 2004 licences Experienced operators FOGL: Noble (op.) 40% 35% Noble Energy Edison: 25% FOGL:…
FOGLs South & East Basin Licences 2010 & 2012 drilling 5 wells drilled: 4 found gas or gas-condensate Proved a working hydrocarbon system in the basin Good quality source rocks Good quality Cretaceous reservoirs Toroa 4
Cretaceous Source Rocks: The key to finding oil 5
Major 3D seismic acquisition programme completed Major 3D acquisition programme Completed in February 2014 3 separate survey areas 12,000 sq. km in total 6
New 3D seismic Over 12,000 sq.km 3D survey completed 3 separate areas of interest: Diomedea Fan Complex Cretaceous Fault Blocks Hersilia Fan Complex Excellent data quality & imaging Step change in our understanding and…
Diomedea Fan Complex (FOGL 52.5%) The Diomedea area comprises a large system of Prospects and Leads map deep-water channels and fans. Mid Cretaceous source rocks are expected to be inter-bedded with these sands and mature for oil. A…
Diomedea Fan Complex Potential drilling candidates include: Humpback Finback Seismic interpretation is on-going Final target selection expected by end Q3 2014 Humpback shown on amplitude map generated from the new 3D seismic…
Cretaceous Fault Blocks (FOGL 52.5%) The Darwin exploration well discovered a rich gas condensate in good quality Cretaceous sands Numerous, similar features have been mapped in our adjacent licences. A 3D seismic survey was…
Hersilia Fan Complex and Loligo (FOGL 40%) A large 5,750 sq. km 3D seismic survey acquired 3D survey outline Prospect mapping has yet to commence Scotia Fast-track 3D seismic data available in mid June Source rocks may be oil…
FOGLs North Falkland Basin Licences Interests in 5 licences PL004b (40% WI) contains Sea Lion southern extension Material exploration prospect stacks in Zebedee well location PL004, PL003 & PL005 Jayne East Zebedee Jayne…
Sea Lion area The Sea Lion field straddles PL032 & PL004b FOGL estimate that c.30% of the Sea Lion oil-in-place lies within PL004b 85 mmbbls 2C resources net to FOGL (Senergy) Premier are proposing a two phased development…
PL004b: Zebedee (FOGL 40%) FOGL: 40%, Premier (Operator) 36%, Rockhopper: 24% Net resources c. 60-160 mmbbl (un-risked) Multiple stacked targets Well to test 7 target horizons The well will seek to extend the proven F2 sequence…
PL004a Isobel & Elaine (FOGL 40%) Net resources c. 30 90 mmbbl (un-risked) Well will target Isobel deep Success will de-risk Elaine North & South, Helen & Susan Risk assessment: moderate Key risk: up-dip seal & reservoir Jayne…
PL04c: Jayne East (FOGL 40%) Net resources c.40 90 mmbbl (un-risked) Location provides potential to stack 5 fans Risk assessment: moderate Key risk: up-dip seal Jayne East Jayne East Location Susan 16
FOGLs drilling programme Ocean Rigs Eirik Raude contracted Rig to be mobilised to the Falklands in Q1 2015 The final drilling order is expected to be: - 2 PMO operated wells in the North Falkland Basin - 2 Noble operated wells in…
2015 drilling programme FOGL has by far the largest exposure to the 2015 drilling programme: Share of 6 well firm programme, based on drilling days* - FOGL: 42% - Premier Oil: 19% - Noble Energy: 19% - Rockhopper: 13% - Edison…
Funding FOGL is fully funded through a 5 well drilling programme commencing in Q1 2015 It is either partially or fully carried on 4 of the wells as a result of farm-out carry arrangements with Noble Energy, Premier Oil and Rockhopper…
FOGL largest exposure (40%) to the 2015 drilling programme Falklands only company operating in both north & south basins Fifteen drilling commencing in Q1 2015 Five wells firm wells, plus options Fully funded or firm…
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