FOGL does appear to have stepped up a little gear over last couple of weeks. Slowly slowly wins the race. Happy to see the sp move up gradually like this. I would not be selling now at this stage of the game that is for sure. Buy price is ticking up every day now.
good evening gentleman,thanks for your info,having been in here with des before hand,i know how much the sp can jump just on hype when they put the rig in place,drilling for oil is an expensive buisness,we are all hoping that when there campaign begins they have much more expertees than the board of des ever had,we all need to be lucky,but no doubt exciting times ahead.imho
FOGL needs to find about 600m bbls recoverable (about 2.4bln bbls oil) of which FOGL has 40% or 240mln bbls. If we use PMO figures of US$85 per bbl at a cost of US$65 per bbl (Saudi is $35 & Turkey $50) that gives $20 per bbl on 533,527 mln shares in issue is $8.9 per share @ 1.7 is Â£5.29 over probably 8 years is about 66p. But that doesn't include about 15% of sea lion which could well be another 100mln bbls to FOGL itself, and the latter is already proven. So the s/p would then be about 100p as a minimum. Not 160p but on the way. We should know a lot more when the southern basin details are published over the next couple of months.
In the offshore North Falkland basin, Premier’s pre-development activities continue on the Sea Lion project. The functional specification and basis of design have been finalized for the TLP, and award of the FEED contract to specialist contractors is imminent. Later this year a geotechnical survey will start at Sea Lion, results of which will be incorporated into the FEED process.
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