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Falkland Oil & Gas (FOGL:AIM) – Finals PTP: -£1.88m (-£1.03m) Divi:n/a (n/a)

The frontier attractions of the Falkland Isles have been a centre of private investor interest in the past few months after first BHP Billiton agreed a deal to farm in to FOGL’s assets and then earlier this month Desire Petroleum (DES:AIM) said it had also agreed a deal with an unnamed party. Combined, this has fuelled hopes of getting a rig to the South Atlantic. The latest update, which saw the share price up slightly to around 134p, revealed a wider pre-tax loss for the year, but management did at least offer the possibility of some exploration drilling next year.

Chief executive Tim Bushell says: ‘FOGL is now within touching distance of realising the potential of what is probably one of the most exciting high-impact exploration projects currently being undertaken anywhere in the world.’

Shares says: Potentially exciting but still some way to go.

by: Tom Sieber