Wednesday, November 21, 2012, 9:50 AM
Shares of Falkland Oil & Gas (FLKOF.PK +16.8%) rise as much as 21% in London trading on speculation that drilling at its Scotia well in the Falkland Islands will lead to a discovery. Falkland and its partners, Noble Energy (NBL +0.2%) among them, are targeting ~1B barrels of oil at the well. "They're close to the target depth on Scotia," a Jefferies analyst says.
Comment![Energy, On the Move]
Monday, August 6, 2012, 9:52 AM
Noble Energy (NBL +1%) agrees to buy a 35% stake in in most of the Falkland Islands licenses of Falkland Oil & Gas (FLKOF.PK) for cash and funding from NBL for certain future drilling and exploration costs. Falkland estimates $180M-$230M in total investment from NBL over the next three years in the area that is said to contain up to 6.2B barrels of oil.