FOGL, the oil and gas exploration company focused on its extensive licence areas to the South and East of the Falkland Islands, is providing this update on drilling operations at the Loligo prospect following recent market speculation.

The well has been drilled to a depth of 3,900 metres and is expected to reach total depth (TD) within the next 24 hours. Drilling operations are approximately five days behind schedule, principally as a result of having to run an additional string of casing in the top section of the well.

No abnormal pressures have been encountered during the drilling of the well and all operations have been conducted without issue.