Shares in Falkland Oil and Gas (FOGL), the oil and gas exploration company focused on its extensive licence areas to the South and East of the Falkland Islands, were up around 4% in afternoon trading in London.
This was despite announcing an overall loss of $6.6m in the year ended December 31 2011 which was nearly $3m higher than the loss in the previous year.
The company said that any degree of success from the wells it is working on would be a transforming event for FOGL.
At 3:04pm: (LON:FOGL) Falkland Oil and Gas Limited share price was +2.63p at 69.13p
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