Falkland O&g Share Chat (FOGL)

BUMMER.

Weak close yesterday points to another 7-10% drop.

The cat too heavy to bounce???

I am an investor like most here and like most lost a lot on Fogl the first time round with an average of 126p which was more than 2 yrs ago. I think its fair to say that there are more stable companies out there and so i can only advise those that have some cash left and hope to recoup losses to look at xel which is one other company that i invested in some 2 years ago. Again at an average of 170 i am down but this is company that is going places and at under 100p at the moment is a serious contender to make up those losses during 2013..dyor and good luck for the future...a fellow longterm investor

looked this morning and yeah no oil just thought for fook sake really could have done with this finding oil, cant see it going much lower just a long hold till 2013 and wait for them to drill again i suppose silly to sell at this price hoping might break 40p next few mths,

well i must say i took a chance and iv dun my *******s ! 7nights 12hr shifts for me for the rest of my days ! i was always ment to work have dun for the last 40years , well i lived the dream for a little while but im back down to earth with a bang !I IWAS HOPING FOR A BOOOOOOM BUT GOT A BANG GRR lol good luck everybody !

First post eh,good one!! Welcome to lse mate and lets hope we see mr market take us back up sooner rather than later!

To obtain a 48.02% daily fall in price you nee to use the difference between a very very short peak (one trade??) and a stable run. A more representative % is about 20%. As A famous Cpl used to say " Don't panic!!"
Is there enough cash in the kitty to drill two more wells at least? If so then hang on for the ride.

I lost a lot when i sold out a year back after making good profits for 5 years, but there comes a time when cutting losses may be the best option and put what you get into an oil company that has found huge oil fields and could be t/o, yet is trading well below par value...there is only one?

.i just happened to find this post from 'embers69' on FOGL...investors over there are being dealt a raw deal..tomorrow THERE WILL be another massive sell off in FOGL, for sure, there doesn't seem to be much point investing in the Falklands and many will be plonking what money they do get back into something more stable....maybe, GKP?

READ THIS! -courtesy 'embers69'

http://www.iii.co.uk/investment/detail/?display=discussion&code=cotn%3AFOGL.L&thread=10219988&it=le&action=detail&id=10219988

It's all the great unknown bud! My longtermers here are a tad out of sorts but chucked a few more in the pot this afternoon,cash value this,prospects that,arguments up and down,some talk of II holdings,gas,next drills,delays.....how mundane! Fact is they might/might not bounce but bizarrely I'm chuffed adding today as nearly grabbed a load more the other day when they dipped into the late 50's!! Like you I work so don't have much time to look at intraday(well not as much as I'd like to ha ha). First had them a few years ago around 80,had a few around the mid-40's and always done okay. This time haven't bothered researching as what's the point,it's all sentiment driven and as you say, losing is an easy game on aim these days but the hope factor keeps our interest and if I have the good sense to keep today's, who knows where they'll be in the distant(hopefully wont be averaging down!!!!).

Chief Executive Tim Bushell said the results of the Scotia well provided further endorsement of the hydrocarbon potential of the South and East Falkland Basin and had proven the presence of hydrocarbons within the mid Cretaceous Fan Play.

"During 2012 we have drilled two encouraging wells, both of which found hydrocarbons and were completed safely and within budget," he said.

"They reinforce our confidence in the potential of the basin."