LONDON, JULY 5 (Reuters) – British oil and gas explorer Falkland Oil and Gas (FOGL.L) (FOGL) said preliminary results for its Toroa well will be delayed by one week because of operational and weather problems.
“FOGL now expects to announce the preliminary results of the Toroa F61/5-1 well during the week commencing Monday 12 July 2010,” the company said in a statement on Monday.
FOGL is currently drilling in the Falklands alongside Rockhopper (RKH.L) and Desire Petroleum (DES.L) as part of a closely watched exploration programme that has sparked protests from Argentina, which claims sovereignty over the British-government islands [ID:nLDE6530AA].
FOGL has a 49 percent interest in the Toroa well. Shares in the company last traded 243.5 pence on Friday’s close, valuing the firm at around 350 million pounds. (Reporting by Golnar Motevalli; editing by Sarah Young)