Borders & Southern Petroleum PLC said on Friday that it intends to conduct fundraising of up to US$1.8 million to appraise and develop its Darwin gas and condensate discovery in the Falkland Islands.
Falkland Oil & Gas Ltd told investors that drilling of the deep water Humpback exploration well in South Falkland basin has run into delays. They were described as ‘unforeseen equipment and operational issues’ and it has added just over a month to the schedule – to about 100 days from 65 planned days – so the well results are now expected during September.
Energy company Rockhopper Exploration and Falkland Oil and Gas Ltd., have announced that drilling operations at Isobel Deep well have recommenced. Isobel Deep is located in the North Falklands basin and is part of the current round of drilling in Falklands' waters.
Noble Energy announced Monday that it has acquired additional acres offshore the Falkland Islands and plans to start drilling, despite opposition from Argentina’s government. The Houston-based oil company now holds a 75% interest in a license in the North Falkland Basin from Argos Resources Limited, an oil and gas exploration company based in the Falkland Islands.
Falkland Oil and Gas Ltd has confirmed that the Eirik Raude rig has commenced mobilization from West Africa to the Falkland Islands for the 2015 drilling program, which will be operated by Premier Oil and Noble Energy.
Borders & Southern Petroleum PLC said on Tuesday that new data on the Darwin gas condensate discovery in the Falkland Islands show the potential for wider hydrocarbon distribution.
Borders & Southern announced this week it has completed the 3D seismic program in the South Falkland Basin offshore the Falkland Islands. The group acquired 1,025 sq km of full fold seismic data collected by the ‘Ramform Challenger’, which will be processed by Petroleum Geo-Services.
Argos Resources the only Falklands explorer to not drill a well has had the most successful year of them all in share price terms. Results of interpretation of 3D seismic data are encouraging with a number of prospects identified and the company is looking for industry partners to take exploration drilling forward. Year to date share price performance: up 107.92% at 24.95p.
The Falkland Islands Government has welcomed the news of a farm-in agreement between Falkland Oil and Gas Ltd and US based Noble Energy which was announced on Monday and confirms the Falklands as an “excellent investment destination”.
Falkland Islands exploration company Borders & Southern (AIM: BOR) announced the spudding of its second well, 61/25-1, on 11 May 2012. The well is located 170 km south of the Falkland Islands.