Falkland in Noble deal

City A.M. Reporter
SHARES in Aim-listed explorer Falkland Oil & Gas jumped as much as 16.5 per cent yesterday after the firm said it had entered a farm-out agreement with an affiliate of Noble Energy.

The company said Noble Energy will take an investment in 35 per cent of both Falkland’s northern and southern area licences, with a total investment over the next three years set to range between $180m (£115m) and $230m.

Meanwhile, it was reported that Argentina will use YPF to search for oil in the Falklands.