Falkland Oil and Gas Limited is providing an operational update on the 53/02-01 Humpback exploration well.
•The 53/02-01 Humpback exploration well has been drilled to 4,718 metres
•Oil and gas shows recorded whilst drilling through main target horizon
•Intermediate wireline logs indicate the possible presence of hydrocarbon bearing sandstones within main target horizon
•Well now being deepened to evaluate additional targets. FOGL carried through this phase of drilling by Noble Energy in return for assigning a 32.5% interest in the deeper targets to Noble Energy
Progress on the well has been slower than anticipated because a side-track was required at 4,360 metres for mechanical reasons. The well has now been drilled to a depth of 4,718 metres. A number of sandstone intervals in the Lower Cretaceous (APX-200) were encountered between 4,642 metres and 4,704 metres and oil and gas shows were recorded whilst drilling through this section.