Falkland Oil and Gas Ltd. announced that Peter Dighton has resigned as a Non-executive Director in order to dedicate more time to his business activities in Australia. Peter's resignation will take effect at the end of November this year and in recognition of his valuable contribution since the company's inception, the Board of Directors has decided to exercise its discretion to allow his options to be exercisable until 12th October 2011.

Falkland Oil and Gas Limited (FOGL) announce that it has conditionally raised £7.6 million before expenses through an issue of new ordinary shares. The net proceeds of the fundraising will be used to provide additional working capital to fund long-lead drilling equipment and general and administrative costs through 2010 and into 2011. The directors of FOGL expect to raise the additional capital required to fund the Company's share of the drilling program through a further farm out and/or equity issue in due course.

Falkland Oil and Gas Ltd. filed its Annual on April 17, 2009 for the period ending December 31, 2008. In this report its auditor, BDO Stoy Hayward LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.