I did alert that Argos was not going to rest on their laurels and just rely on the yearly royalty payments, with a major player now as a partner they can utilise the huge knowledge and completed 3d seismic to gain further territory. Now the have the backing , watch this company gain in value massively. The whole weeks events are now unravelling to the fact that Argos have got a most amazing deal and the share price is only going to go one way .
From the RNS:-...........5. Ongoing activities and strategy
The Company has a strong and experienced management team with extensive experience in both the oil and gas industryand the Falkland Islands. Accordingly, following completion of the Transaction, the Company will seek to identify additional ways to create value for Shareholders utilising this expertise.
The innovative nature of the Transaction means that there is no material Shareholder dilution or further material Shareholder funding required by the Company for any future investments in the Licence. In addition, with the Company’s ongoing working capital requirements expected to be catered for by the terms of the Transaction and the work obligation on the Second Exploration Term of the Three Exploration Term Licence now covered, the Directors believe that the financial position and outlook for the Company is robust.
In addition, there is unlicensed acreage elsewhere offshore the Falkland Islands and the Company expects that there will also be acreage which is currently licensed but which may have to be relinquished over the next few years under the terms of the Falkland Islands licensing regime. The Company has access to seismic data over many of these areas and intends to review this unlicensed acreage and to constantly monitor relinquished acreage as it becomes available with a view to potentially applying for new licences on areas considered prospective from these ongoing efforts.
Have no intention of selling ARG myself,... interested to learn more about the 3D seismic data in open acreage to the north of the licence, that ARG aquired in 2011, to identify additional prospectivity in the northerly continuation of the Basin.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.