Falkland Oil and Gas Signs Farm-out Agreement with Noble Energy

Falkland Oil and Gas Ltd. (OTC Pink:FLKOF) has signed a farm-out agreement with Noble Energy.

As quoted in the press release:

• Noble will farm-in to the Northern Area Licences for a 35% interest except for two excluded areas. FOGL will continue as operator of the entire Northern Area Licences until early 2013, when operatorship of the farm-in area will be transferred to Noble.

• The excluded areas within the Northern Area Licences will be delineated both geographically and stratigraphically and comprise the Loligo complex and the Nimrod-Garrodia complex. Noble will not participate in certain stratigraphic horizons in these excluded areas and FOGL will retain a 75% interest and operatorship with Edison International S.p.a (“Edison”) holding the remaining 25% interest. However, Noble will remain a participant in the excluded areas regarding other horizons.

Click here to read the Falkland Oil and Gas Limited (OTC Pink:FLKOF) press release.