I totally understand to anguish of shareholders since the float in 2010 , but this is not the time to feel downtrodden , quite the opposite,, Argos thought they were within a month of drilling a month later of knowing whether Rhea was a find then the Erik Raude was found totally environmentally a total liability , Argos and Noble have had to restructure the licence the annual payment to Argos and also find another rig , under a very exacting enviremont namely oil at 27 , It takes time to restore all the original plans , patience is required for a little time longer is my opinion, people selling at these prices need their hands examined.
To reach the 50 p share price , the first uplift will be announcement of the extension, that will confirm Noble commitment and therefore add 10 p to the existing price, announcement of the drilling campaign wii add a further 25p to the share price , and the run up to drilling Rhea another 10p to 20 p which adds up to 50 p ,. Striking oil will obviously take this to another plain and production will take this share into orbit. No dilution along the way is the key. A nice scenario lets hope it happens , it has every chance of achieving this as long as POO stays stable.
Bham786, According to FIG's web site, the license has been extended (unofficially). off course we need an RNS from Arg to confirm. Regarding the earliest time we may drill, I am hoping for late 2017 and imho, it's going to a multi-drilling campaign, 3 drills in Argos area... All above IMHO, so please DYOR...Cheers, 50p...imho/dyor etccc...
Tuggy, IMHO...DYOR..9 months to organize the multi drilling campaign, 12-18 months to organize the rig from start to spud... At this moment everything is going to Plan...IMHO.. Wish i could say more...lol...keep your eyes on POO.. I just hope to see more sellers at the current price. cheers, 50p imho...dyor.
There is a lot happening behind the scenes at the moment , I e licence extension , recruiting a new rig and plan a new drilling campaign, all this takes time and patience for us the shareholders, but one great thing for all FI oilies the POO is now over 52 . Once the licence agreement is signed , Noble are in for the long term and will drill and will produce on one of the three potential wells . Not forgetting PMO and RHK , they will want to appraise Isobel ASAP . Huge potential here, patience will triumph.
uckyman2, Tell me about it, but what else we can do ! Arg was let down by E.R. failure and Thanks God they did stop E.R. from further drilling. The POO is recovering and the next multi drilling campaign will start on ???...etc....etc... Happy to hold and wait....cheers, 50p imho...dyor..etc...
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