15 February 2010
Falkland Oil and Gas Limited
("FOGL" or "the Company")
Rig Contract Agreement Secured
Further to our press release dated 26 November 2009 FOGL is pleased to announce that it has
reached an agreement with Desire Petroleum plc to contract the Ocean Guardian rig to drill the
first ever exploration well in the East Falklands Basin on the Toroa prospect, which it expects will
be within the first half of 2010.
Tim Bushell, Chief Executive of FOGL, said:
"We are delighted to have secured the Ocean Guardian for the drilling of our first ever exploration
well, which will be a significant milestone for the Company."
