Falkland plans new drilling

Aim-listed Falkland Oil and Gas yesterday posted an increase in first-half losses to $941,000 (£588,800), but insisted that it is in a strong financial position, with sufficient funds to undertake a 3D seismic survey and a new drilling programme. “We are in an excellent position to take advantage of the opportunities to exploit our exploration licences and create value for shareholders,” said chairman Richard Liddell.