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 condensate Proved a working hydrocarbon system Good quality source rocks Good quality Cretaceous reservoirs Toroa 4
Major 3D seismic acquisition programme completed 12,000 sq.km 3D survey completed 3 separate areas of interest: Diomedea Fan Complex Cretaceous Fault Blocks Hersilia Fan Complex Hersilia Fan Complex Excellent data quality &…
Prospect selection for 2015 drilling campaign Aims Select initial prospect for first well Select follow-up location(s) for second well and also options for further drilling given sufficient encouragement Prospect selection criteria…
Diomedea Fan Complex (FOGL 52.5%) A full re-evaluation of the basin has been Cretaceous Source Rock Maturity Map conducted by the operator (Noble Energy) Immature Early Peak Mature oil Mature oil This incorporates all well results,…
Diomedea Fan Complex (FOGL 52.5%) The Diomedea area comprises a large system of deep-water channels and fans Prospects and Leads map 3D data has facilitated detailed mapping of multiple slope channel systems, where good quality…
Humpback (FOGL 52.5%) Gross prospective resources: 510 mmbbls* Humpback comprises a system of stacked slope-channel reservoirs Located up-slope from mature oil source kitchen Seismic amplitude map over Humpback from 3D dataset…
Cretaceous Fault Blocks (FOGL 52.5%) The Darwin exploration well discovered gas and a rich 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 Prospect mapping is underway using the fast-track 3D seismic data Final processed data in Q4 2014 Source rocks may be oil generative in the…
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%) Gross prospective resources: 160 mmbbls F1 & F2 reservoirs* Multiple stacked targets 121 mmbbls F3 reservoirs* Well to test 7 target horizons The well will seek to extend the proven F2 sequence towards the…
PL004a Isobel & Elaine (FOGL 40%) Gross prospective resources: 240 mmbbls (Isobel deep only)* Well will target Isobel deep Success will de-risk Elaine North & South, Helen & Susan Risk assessment: moderate Key risk: up-dip seal &…
PL04c: Jayne East (FOGL 40%) Gross prospective resources: 85 mmbbls* Location provides potential to stack 5 fans Risk assessment: moderate Key risk: up-dip seal Jayne East Jayne East Location Susan * Mid case gross…
FOGLs drilling programme Ocean Rigs Eirik Raude contracted Rig to be mobilised to the Falklands in Q1 2015 The drilling order of the firm programme is expected to be: - Zebedee North Falkland Basin (NFB) - Isobel deep NFB -…
FOGLs drilling programme Source: Premier Oil Option slots have been secured, to allow follow-up drilling on any successful results: - Up to 8 options available up to point of rig mobilisation - Options available during drilling…
FOGLs 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 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…
Summary Excellent progress made towards next drilling campaign scheduled to start in Q1 2015 Major 3D seismic acquisition programme completed in February 2014 and interpretation continues Eirik Raude deep-water rig contracted for the…
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