Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Are an utter disgrace. Given away all the family jewels will get much watered down upside now.
Not a chance.....
Should hang their heads in shame. To give this up for a song afte 3 out of 4 successful wells. Amazing that humpback crushed the company. Just shows cash is king. They could I am sure easily have placed in the mid 20 s at any time after the first 2 discoveries
More oil but same merger agreement. 3/4 discoveries a year or two ago would have been huge for this company.
boom
Oil Discovery at 14/20-2 exploration well on the Isobel/Elaine Fan Complex Highlights · Oil discovery confirmed at Isobel Deep · Significant oil column of over 480 metres · Net oil pay 27m · No oil-water contacts or gas encountered · Four additional oil bearing F3 reservoirs Falkland Oil and Gas Limited (AIM:FOGL), the oil and gas exploration company focused on its extensive licence areas to the North, South and East of the Falklands Islands, is pleased to announce the successful results of the 14/20-2 exploration well on the Isobel/Elaine structure (The "Well"). This was a re-drill of the Isobel-1 (14/20-1) well, which discovered oil in the Isobel Deep reservoir but had to be prematurely abandoned for operational reasons. The Well is located on licence PL004a in which FOGL has a 40% working interest. This will increase to 64% following the merger with Rockhopper Exploration, which is expected to complete on the 18 January 2016. The Well successfully re-drilled the Isobel Deep reservoir at a location 4 kilometres west of the original Isobel-1 well and reached a total depth of 3014 metres. Although the Well was principally designed to re-drill the Isobel Deep sands, it was also able to test other sand bodies within the F3 sand system. The well successfully penetrated five separate fans within the complex, including: Isobel Deep, Isobel, Elaine South, Emily and Irene. All five of these fan systems were oil bearing and no gas was encountered. The well did not encounter an oil-water contact in any of the sands. The well discovered total net pay of 27m in the Isobel Deep, Isobel and Emily reservoirs. A very large oil column (in excess of 480 metres) has now been proven between from the crest of the structure to the current location. The location selected for the re-drill of Isobel Deep was not optimal for any of the other fans. As such, most of the fans were penetrated at their margins and FOGL expects that based on analogous systems, better quality reservoir will be present in the main bodies of the fans. Whilst the data acquired is still to be fully evaluated and integrated, the initial view of the Company is that the Isobel/Elaine complex is likely to contain commercially viable quantities of recoverable oil. The 14/20-2 well will now be plugged and abandoned.
wouldn't expect an answer now as they are probably only concerned with lining their own pockets further in their cushy new non-exec positions having royally shafted the shareholders here but making sure their mates managed to get out on a convenient spike first having withheld the Zeb CPR this long I'm sure it can be withheld a little longer
Emailed fogl Mon as to why as stated 25th Aug rns " zeb cpr released before end Q4 2015" not been issued. As yet no reply.
On heavy loss too there is oil here plus think if next drill is good will recover as part of rkh long term investment should recover as long as the world still needs oil also think Argo is very interesting play could be fun if you are brave enough
HMM WELL i would like to say iv been in here for year with a ave of 92p !!! what are you trying to say to me ???
Oh yes I am here and will still be here when it comes out of the wells.
Flutters, some of us have been here years, with an average of 100p plus !!
I would hold as RKH was 80p in June. Plus I suspect that when the Feb oil contract price shorters are done on 21 Jan we will see the beginnings of an oil spike. Your choice though but just be careful which bridge you choose as a motorway one may be messy.
Wait hope and pray
this is a joke , how i fell for this i never know , we have all done our B@LLOCKS ! NOW HOW DO WE GET OUT OF THIS SH@T , DO WE HOLD ??? OR DO WE RUN TO THE NEAREST BRIDGE ? ? ? HELP !!!
Well looks like we will be Rockhoppers and out of pocket, don't you just love investing was all ways going to go through who voted via proxy ?.
That the total votes cast, was very low. Could there be a lot of shareholders out there like me that never received anything.......makes you wonder!!
Would I be correct in thinking that whilst in the longterm us FOGL holders would like to see the RKH share price rocket - at present - at least until after a succesful merger it doesn't make much difference to us whether its up or down. I appreciate that an upward direction is always prefered (unless you've just sold out). Any thoughts?
News out
Vote massively in favour. Subject to rubber stamping on 15/1. Effective 18/1. GL to all FOGLHoppers. http://www.fogl.com/fogl/en/Media/pressreleases?id=189
Possibly in the morning on vote
I presume we'll get a vote result RNS later / 7am tomorrow? I haven't seen anything yet.
Documents received no problem. Court approval was 2pm today and vote at 3pm. Assume it was approved as looking at both SPs over last 10 days looks like FOGL had enough yes proxies. RNS next. ??
Did we receive the POSTING OF SCHEME DOCUMENT, if not shout out as i certainly havent through the post or my broker.
If we hold Shares in the UK, why have we not been asked to vote on the relevant merger etc. Why has it only involved the Falkland Islanders so far??. Are FOGL scared that if they open it up to the UK Share holders that we will veto it???