By OGJ editors
HOUSTON, Dec. 20 -- Falkland Oil & Gas Ltd. hired Geophysical Services Inc., Houston, to conduct the first 2D seismic survey in 10 years in a license area off the Falkland Islands that it holds with Hardman Resources.
FOGL holds 77.5% and Hardman Resources Ltd., Perth, Australia, holds 22.5% of the joint venture area, which initially involved 33,000 sq km. FOGL recently received another 50,000 sq km license, of which it holds 100% interest.
The survey will cover both the JV and FOGL's extension, allowing the mobilization and demobilization costs to be spread over both license areas.
Initial results of the seismic survey are expected to be available by mid-2005.