Really means, we haven't seen the 3D yet we think there may be more oil in the North Basin but the South may be more gas there than oil and it will be very expensive to get out plus difficult to sell, hence the slight downgrade to 45p. That to me indicates 35p but I would love to be proven wrong with a higher S/P. As to the TBushell statement this was careful not to ignite too much optimism but simply state facts.
"We are delighted to have secured a suitable deepwater rig.
FOGL will be the only company drilling in both the northern and southern basins and will have by far the largest equity participation in this campaign. As such, this rig contract represents a major milestone for FOGL and will give our shareholders exposure to an exciting, high impact and fully funded, five well drilling programme in 2015."
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.