As reported in EnergyReview.net yesterday, the permit extensions were granted in the wake of significant seismic results from work to the south and east of the islands earlier this year.

“The extension will allow more time to investigate the increased number of leads identified during the recently completed 9,450 kilometre 2D seismic survey acquired across all of FOGL’s licence areas,” FOGL said in a statement.

“This survey found more than 130 leads, compared to an initial eight previously identified.

“The new 4,000km 2D seismic survey has already commenced and the joint venture expects to conduct the 3D seismic survey later this year and into 2006. In addition to the new 4,000km of 2D seismic in the FOGL-Hardman area, FOGL will also record a further 4,000km in its 100% 2004 northern licence.”

To date FOGL has recorded approximately 1,600km of these new surveys, the company said.

The work is aimed at defining and prioritising 20 prospects for drilling across all of FOGL's licence areas and to develop a multi-well drilling programme, targeted to begin in 2007.

FOGL was aslo aiming to bring in new partners for its Falklands project, according to ASX-listed oil and gas explorer Global Petroleum Limited, which has a 14% shareholding in FOGL.