Falkland Oil and Gas Ltd, abbreviated to FOGL, was an energy company registered in the Falkland Islands and headquartered in London, the United Kingdom. Its business was based on exploring for offshoreoil reserves off the coast of the Falklands. It owned the right to extract oil from a number of blocks to the east and the south of the islands.
FOGL was listed on the Alternative Investment Market of the London Stock Exchange. The company issued an initial public offering on 14 October 2004, debuting at a price of 40p.[2] By 2010, FOGL estimated that its four best prospects could contain 8 billion barrels (1.3 billion cubic metres),[3] with up to 60 billion barrels (9.5 billion cubic metres) in total in all sectors off the coasts of the Falklands.[4] The share price peaked at 267p in June 2010, but slumped by half on 12 July 2010, when it was found that one of its prospect wells, Toroa, was empty [5]- as of 1 March 2015, the share price had dropped to ~31 pence.
40 percent owned by Falklands Oil and Gas, 36 percent by Premier Oil and 24 percent by Rockhopper Exploration.
On the 2 April, during the first of the 4 planned wells at Zebedee a 27.9 meter oil reservoir and 18.5 meter gas reservoir was found (this was better than expected.)
Due to the ongoing disputed nature of the Falkland Islands, FOGL received criticism from Argentina. On 30 April 2014 FOGL announced the following in their annual report;
Argentina legal issue
It is well documented that Argentina claims sovereignty over the Falkland Islands and the surrounding maritime
areas. The Argentine government has recently stated that it intends to take legal action against companies and
individuals with regards to this claim. Neither FOGL, nor any of its Directors have received any written notification
or legal documents from the Argentine Government with respect to such actions. FOGL's position on this issue is
clear. The Hydrocarbons Law (Law No 26.659) enacted by the government of Argentina does not apply to the
Falkland Islands or its surrounding waters, and is therefore unlawful. Any attempts to enforce Argentine domestic
legislation in relation to the Falkland Islands continental shelf are an unlawful assertion of extraterritorial
jurisdiction. As such, Argentina's action is contrary to the UN Convention of the Law of the Sea. It is also unlawful
interference with the right of the Falkland Islanders under the UN Charter to selfdetermination, their right to develop
their hydrocarbons resources and the peaceful development of their economy.
Companies with headquarters and/or registered office in the UK but no applicable energy operations within the country shown in italics1Ultimate parent company is not UK-based 2Integrated in the United States, no generation or supply activities in the UK
