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Falkland Oil and Gas leaps on news of potential joint venture partner

Falkland Oil and Gas, which is hunting for large offshore oil and gas targets near the Falkland Islands, leapt 50% to 112 pence today after admitting to "advanced discussions" with a major resource company to farm into its assets.

Shares in Falkland Oil and Gas had been in perpetual drift since peaking at nearly 180 pence in early 2006.

Falkland said the discussions may or may not lead to a deal, though punters in the market seemed to think they would.


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Falkland Oil and Gas, which is hunting for large offshore oil and gas targets near the Falkland Islands, leapt 50% to 112 pence today after admitting to "advanced discussions" with a major resource company to farm into its assets.

Shares in Falkland Oil and Gas had been in perpetual drift since peaking at nearly 180 pence in early 2006.

Falkland said the discussions may or may not lead to a deal, though punters in the market seemed to think they would.


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